That's silly. It's a business, not a charity. When I'm a shareholder in a business I don't want management wasting my capital by investing it in the stock marke

That's silly. It's a business, not a charity. When I'm a shareholder in a business I don't want management wasting my capital by investing it in the stock market when they run out of growth opportunities. Just give me the cash back (preferably in the form of stock buy backs) and then I can invest that cash in other businesses myself.