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Buybacks create false value, dividends redistribute value. Buybacks would be equivalent to dividends if there was 100% consensus that the company's market valu
by meltyness 4y ago
Buybacks create false value, dividends redistribute value.
Buybacks would be equivalent to dividends if there was 100% consensus that the company's market value was headed up, faster than any other asset -- such that all recipients started trying to buyout others.