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According to Forbes they were > For most of the 20th century, stock buybacks were deemed illegal because they were thought to be a form of stock market manipul

• missedthecue 1y ago
  Forbes is simply wrong. Henry Singleton who founded Teledyne is known as the buyback king because he used his high-flying stock in the 1960s to snap up tons of smaller electronics companies, and when his stock crashed to $8 during the years of stagflation, snapped up millions with buybacks. In the end, he had used his stock as a currency to acquire dozens of companies at what essentially became 80% discounts. http://csinvesting.org/wp-content/uploads/2015/05/Dr.-Singleton-and-Teledyne-A-Study-of-an-Excellent-Capital-Allocator.pdf http://csinvesting.org/wp-content/uploads/2015/05/Dr.-Single... A very good very in-depth PDF read about him if you're interested in this type of thing.
• vpribish 1y ago
  forbes is not a source of information. it used to be a real source of journalism but now is worthless