To underline huge market distorting impact of stock buyback, read this quote from Goldman Sachs Top of Mind, Issue #77 (https://www.goldmansachs.com/insights/pa

To underline huge market distorting impact of stock buyback, read this quote from Goldman Sachs Top of Mind, Issue #77 (https://www.goldmansachs.com/insights/pages/top-of-mind/buyback-realities/report.pdf https://www.goldmansachs.com/insights/pages/top-of-mind/buyb...): "Buybacks have been the single largest source of US equity demand each year since 2010, averaging $421 billion annually. In comparison, during this period, average annual equity demand from households, mutual funds, pension funds, and foreign investors was less than $10 billion each."