RE:RE:RE:RE:RE:RE:RE:RE:Buybacks"Warren Buffett defended stock buybacks in Berkshire Hathaway ’s annual letter, pushing back on those railing against the practice he believes to be beneficial to all shareholders.
“When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive),” the 92-year-old investor said in the much-anticipated letter released Saturday."
GLTA
CountryBoy69 wrote: I don't buy that argument , buybacks rarely if ever result in a SP increase, MGMT bonuses perhaps , but to for shareholders who invested in this company. The dividend is more than satisfactory so l would prefer to see , an addition to their land holdings with good drilling opportunities since the current assets are aging or continued debt repayment.I don't know what interest rates they currently pay but either of my alternative suggestions make more sense to me. And yes l am a shareholder and CJ is the second highest weighting in my portfolio followed by GXE and l am doing quite well thank-you. Slightly over weight with 35% market weight but not in anyway concerned.