> Companies are giving their cash back to shareholders because each individual company thinks their shareholders can better allocate the cash, rather than the c

> Companies are giving their cash back to shareholders because each individual company thinks their shareholders can better allocate the cash, rather than the companies themselves. I thought the reason for a stock buyback was that the board believes the stock is undervalued. I can't imagine investing in a company that borrows loads of money from the government just to hand it back to shareholders. That sounds like a total scam to me and a terrible investment. I wouldn't accept stock in a company like that even for free. But what do I know. I'm not a CEO.