> That would involve selling shares at a low price after buying them at a high price. This would make management look stupid. They should be made to look stupi

> That would involve selling shares at a low price after buying them at a high price. This would make management look stupid. They should be made to look stupid, since using "96% of free cash flow" to buy back shares means they left the companies that they manage grievously vulnerable to disruption. They should pay for privatizing their gains and trying to collectivize their losses.