No. Qantas had no right doing a share buy-back in 2019. The balance sheet was not strong enough. It was when I sold out.
So many of these companies CEO's do share buybacks at the top of the cycle. Great for short-term gains for shareholders, but long-term erodes the balance sheet. Alan was not alone. In the ten years preceding COIVD the US airline industry (incl. Boeing) bought back $60 billion worth of shares (eroding balance sheets) and then funnily enought went cap in hand to the Government for a similar amount post COVID.
You'd be silly selling into the likes of Apple doing share buy-backs, but with companies like Qantas with weak balance sheets it never bodes well.
Anyway, doesn't really matter waht I think. Good luck with your investment.
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