There are share buybacks and there are share buybacks. As I have...

There are share buybacks and there are share buybacks. As I have said before on this forum they can be a powerful weapon when your share price is being relentlessly pressured as it is now. I recall clearly many years ago, when I held FMG, that the same tactics were decimating the FMG share price when the fundamentals were, as they are here, very good. So FMG announced a $500million flexible, professionally managed share buy back. Clearly it was intended to disrupt the activities of those suppressing the share price and from my observation the money was used sparingly, as needed and successfully.
Apart from being successful it gave shareholders in FMG some respite. And like here it was needed. The share price stabilised and nowhere near $500m was put to use. FMG left this facility in place in subsequent years in dicating that they too were pleased with their strategy.
More than happy to leave it to the company to decide on these matters but if it was announced I wouldn't mind at all and I think many here would in time come to look more favorably on the practice.
All in my opinion.
Cheers Merry Xmas.