> Once the buyback is done, what's keeping that share price from sliding right back down to earth? The plan really seems for the buyback never to be done. Or o

> Once the buyback is done, what's keeping that share price from sliding right back down to earth? The plan really seems for the buyback never to be done. Or only in case of economy-wide disruption when there is something to blame— a kind of reverse-Buffet. In fact , adding more punch to the bowl is a key advantage over the legacy tender offer process— tenders directly compete for shares for just a little while. Buybacks, while they have limits, are much more persistent and flexible. Perhaps it was some historical accident that when the SEC made reacquiring shares easier, everyone started doing more of it … but at some point the explanations of efficient capital allocation just become too much.