I tend to agree right now. In the past when stocks have traded at 24 times earnings, it hasn't ended well. But when shares are cheap, you're missing out if the

I tend to agree right now. In the past when stocks have traded at 24 times earnings, it hasn't ended well. But when shares are cheap, you're missing out if they don't do a buyback. Late 2008/early 2009 was an easy time to make good buyback purchases.