On the other hand, buyback activity near all-time highs could be considered a potential sign that the current Bull Market is approaching its peak. While there is a plausible argument supporting greater share repurchases – return of excess cash in the absence of viable alternative investments – firms have historically exhibited poor timing.
Management tends to repurchase shares in bull markets when profits are high and balance sheets are flush with cash, while cutting back during recessions (precisely the time they should be buying over the long term).
Here are 20 high quality buyback kings at a reasonable price...
|20 Quality Buybacks At A Reasonable Price|