Just to provide balance, another opinion,

https://www.aier.org/article/in-defe...hare-buybacks/

Companies that buy back their own stock don’t see better investment opportunities inside the company or industry. Holding lots of excess cash is an invitation for raider mischief. Taibbi mentions debt trades for stock. Well, the problem isn’t stock buybacks, it’s our stupid tax code taxing income wherever it is earned forcing companies to hold cash overseas rather than repatriate it. Ask any American expat how nasty the US code.