YUM - S&P 500: Buybacks - $104 Billion Of Equity Converted To $104 Billion Of Debt - Risky Business

The Desirability Of Share Repurchases For Exiting And Continuing Shareholders

In principle, I'm not against share repurchases. My views on buybacks are reflected in my article "The End Of The Beginning - Part 2: Buffett Is Right About Buybacks." In that article, I wrote, "I agree entirely with Warren Buffett's view, published in his 2016 annual letter." Below are excerpts from Mr Buffett's letter,

In the investment world, discussions about share repurchases often become heated. But I’d suggest that participants in this debate take a deep breath: Assessing the desirability of repurchases isn’t