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HN is probably the only place I regularly visit on the internet where a large portion of the regular user base will passionately defend these kind of practices.
by enlyth 7y ago
HN is probably the only place I regularly visit on the internet where a large portion of the regular user base will passionately defend these kind of practices. It makes sense, a lot of people here have vested interest in these kind of corporations.
- xbdobd 7y agoWell then, you should exit your echo chamber more often ;) On a serious note though, given Miller and Modigliani, I do struggle to see if there is a problem, with buyback in a general sense (as opposed to what they de facto imply, bonuses for CEOs). Btw, I have zero vested interest in these companies: I have $4000 in a retirement account (35 years old) mostly in cash like instruments. My wife has a 401k, but God knows why and what’s in it.
- lmagno 7y agoIt's kind of amazing, really. Maybe because I'm middle class in a third world country, but I'm always dumfounded with the argument that "actually, rich people having more money is good for everyone".