If investors want to prefer to get capital back, they should sell stock. > just a matter of tax efficiency Yes, and that shouldn't be how it works. Its basica

If investors want to prefer to get capital back, they should sell stock. > just a matter of tax efficiency Yes, and that shouldn't be how it works. Its basically tax evasion. > It's sad to see people (who likely aren't even shareholders) complaining about buybacks without understanding that. Understanding it isn't the issue, its just different having different values.