As a massive buyback is coming on only c15% free float (a 75%! buyback), here are some quotes to ponder from Great Investors. Only a matter of time it starts as CEO bought half his salary in stock on mkt! :
“Repurchases - is sensible [allocation of capital] for a company when its shares sell at a meaningful discount to conservatively calculated intrinsic value. Indeed, disciplined repurchases are the surest way to use funds intelligently. It’s hard to go wrong when you’re buying dollar bills for 80c or less.” Warren Buffett
“The companies in which we have our largest investments have all engaged in significant stock repurchases at times when wide discrepancies exist between price and value. As shareholders, we find this encouraging and rewarding.” Warren Buffett
"I look more favourably if a company is doing significant buybacks. That actually adds something to the equation for me. The dividends particularly are not of interest." Mohnish Pabrai
"Buying back shares is the simplest and best way a company can reward its investors. If a company has faith in its own future, then why shouldn't it invest in itself, just as the shareholders do?" Peter Lynch
"Pay close attention to the cannibals – the businesses that are eating themselves by buying back their stock." Charlie Munger
“Buying-in shares can be a smart tactic. As Warren Buffett once noted, who wouldn’t jump at the chance to buy out his partners as 50 cents in the dollar?" Leon Levy
"Boards that authorise share-repurchase initiatives at market prices below what the businesses are intrinsically worth per share are clearly putting the shareholder's interest high on the priority list." Frank Martin
