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EWC - Canadian C-Suite Squandering Cash In Buyback Mania Too
iShares MSCI Canada Index Fund
Further to my article yesterday on the capital malinvestment in record corporate buybacks at cycle high valuations in equity markets, the Globe and Mail reports that corporate buybacks of TSX-listed companies also reached an all-time high of nearly $50 billion in the 12 months ending March 31, 2019, and nearly 50% higher than the previous mania peak in 2007. Below is the chart of TSX-listed buybacks since 2001, see Buybacks soar on TSX, but there's a downside (subscription required):
Banks and energy companies have been leading the charge as both face slowing profit growth and