If a company has no better use for its money than share buybacks, it's a company that's not worth investing in. In others words it's not an expanding company, b

If a company has no better use for its money than share buybacks, it's a company that's not worth investing in. In others words it's not an expanding company, because expansion requires capital. On the other hand, if you're a day trader, that company is as good for gambling on as any other.