«While others are shrinking their footprints,
reducing head
count, or trying to save their way to the next quarter, we think there's opportunity
for us to take more market
share,» says CEO Brian Cornell, who launched the initiative last February.
«The later stages of the 2009 — 2017 bull market are a valuation illusion built on
share buyback alchemy... The technique optically reduces the price - to - earnings multiple because the denominator doesn't adjust for the reduced share count... Share buybacks are a major contributor to the low volatility regime because a large price insensitive buyer is always ready to purchase the market on weakness... Share buybacks result in a lower volatility, lower liquidity, which in turn incentivizes more share buybacks, further incentivizing passive and systematic strategies that are short volatility in all their forms... Like a snake eating its own tail, the market can not rely on share buybacks indefinitely to nourish the illusion of gr
share buyback alchemy... The technique optically
reduces the price - to - earnings multiple because the denominator doesn't adjust
for the
reduced share count... Share buybacks are a major contributor to the low volatility regime because a large price insensitive buyer is always ready to purchase the market on weakness... Share buybacks result in a lower volatility, lower liquidity, which in turn incentivizes more share buybacks, further incentivizing passive and systematic strategies that are short volatility in all their forms... Like a snake eating its own tail, the market can not rely on share buybacks indefinitely to nourish the illusion of gr
share count...
Share buybacks are a major contributor to the low volatility regime because a large price insensitive buyer is always ready to purchase the market on weakness... Share buybacks result in a lower volatility, lower liquidity, which in turn incentivizes more share buybacks, further incentivizing passive and systematic strategies that are short volatility in all their forms... Like a snake eating its own tail, the market can not rely on share buybacks indefinitely to nourish the illusion of gr
Share buybacks are a major contributor to the low volatility regime because a large price insensitive buyer is always ready to purchase the market on weakness...
Share buybacks result in a lower volatility, lower liquidity, which in turn incentivizes more share buybacks, further incentivizing passive and systematic strategies that are short volatility in all their forms... Like a snake eating its own tail, the market can not rely on share buybacks indefinitely to nourish the illusion of gr
Share buybacks result in a lower volatility, lower liquidity, which in turn incentivizes more
share buybacks, further incentivizing passive and systematic strategies that are short volatility in all their forms... Like a snake eating its own tail, the market can not rely on share buybacks indefinitely to nourish the illusion of gr
share buybacks, further incentivizing passive and systematic strategies that are short volatility in all their forms... Like a snake eating its own tail, the market can not rely on
share buybacks indefinitely to nourish the illusion of gr
share buybacks indefinitely to nourish the illusion of growth.
On the top side, and I did not see any of these, be aware of reverse splits, which can
reduce the
share count, are a sign of a badly run company, but do nothing
for the economics of a firm, aside from keeping them listed on a major exchange.
In working out strategies
for people with very large option profits, I've found that many of them can actually
reduce their tax cost by making disqualifying dispositions before the end of 2012, at least if we don't
count the potential benefit of having a large unused AMT credit after selling their
shares.