Share Repurchase Quotes

The activists play the balance sheet by selling a division to buy back stock and leveraging the balance sheet and buying back more stock.

If you're running a business for the long term, the last thing you should be doing is borrowing money to buy back stock.

A lot of share-buying, not bargain-seeking, is designed to prop stock prices up. Thirty to 40 years ago, it was very profitable to look at companies that were aggressively buying their own shares. They were motivated simply to buy below what it was worth.

Some managements do not even think of buybacks as an option. The idea of shrinking their equity base repels them. Their inclination instead is to get bigger, and this often leads them to pay rich prices for acquisitions that never earn their keep.

First thing we're going to do with the benefits of tax reform is we're going to invest in innovation. We're going to invest in capital, new product lines. It's going to create more manufacturing jobs and our shareholders are going to benefit, too. We're going to improve dividends, share repurchase.

A buyback is itself a special kind of acquisition, made at prices that are typically a bargain compared with those a company must pay for an outside purchase.

If a company's stock is undervalued - as many managers believe theirs is - a repurchase may offer the best payoff of all.

Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.