Eric is Wrong and now he is Long gone
If your not taking care of the shareholders, there will be a lot of stock to buy back.
Arx knows this very well, almost 100 million shares repurchased and still no rerating.
Buying the shares back does nothing with repect to putting money in the pockets of shareholders, and in the current enviroment with so much Fed and Market uncertainity, the companies are putting themselves in a weak position from both a cash, and a market evaluation standpoint.
Keep the cash on the balance sheet if you don't know what to do with it, or hand out special dividends.
So 100 million shares buyback was not enough to get a share rerating, are they now are they suggesting that you need to buyback 200 million shares?
These spreadsheet jockies should be fired.
100% in opposition to the Eric Nuttal strategy, and he is not longer around to egg it on.
IMHO