On the subject to share buybacks – the question is very simple –...

On the subject to share buybacks – the question is very simple – where can we best deploy your cash – in expanding the company or shrinking the market cap.

Ex growth companies usually indulge in gimmicks like buybacks.

If however you're confident about the growth prospects of your company why would you waste your fire power buying back shares.

It's a very very simple equation what will increase my market cap more – buyback or growth.

Per HBS great maxim – never take a decision because all decisions take themselves!