Stock Buybacks
January, 1999
Can you make yourself richer simply by switching the pockets in which you carry your money? That's the rationale behind a price-propping gimmick, called stock buybacks, that seems to wash over Wall Street whenever the stock market starts to wobble. While buybacks give a brief--though not terribly impressive--boost to a company's stock price after they're first announced, the benefit doesn't last long. Companies that engage in them may fall behind their competitors, with a stock price that underp...
