Two Things: Buybacks And ETFs

Show of hands: who’s surprised?


$250 Billion Is Coming ‘Home’! But There’s A Catch If You’re Hoping For A Buyback Bonanza

The “bad” news is, companies will be less inclined to buy back shares with the money they bring home because… well…

Gasp: Companies Are Spending Less On Stocks!

That’s ok, maybe we can just send a nice letter to the SNB and/or Norway’s sovereign wealth fund and politely ask them to fill the void.

‘Go Figure!’ SocGen Reveals The Ugly Truth About The Buyback Bonanza

“Buybacks may boost the market, but they do not obviously benefit those companies doing it.”

Bad News: The Buyback Scheme Has Reached A Limit

“Perhaps over-leveraged US companies have finally reached a limit.”

There’s Good News On Buybacks! Just Don’t Read The Fine Print…

“Really though, we needn’t think too hard about this.”

One Chart Tells You Everything You Need To Know About Buybacks

Any questions?

ETFs To The Rescue!

“ETFs own almost 6% of the equity market, the highest ETF share on record. In contrast, mutual fund ownership fell to its lowest level since 2004 (24%).”

Goldman Delivers The Worst Possible News: “The Buyback Party Has Ended”

“Following years of prioritizing repurchases as a use of cash, corporations actually cut annual spending on buybacks by 11% in 2016 and executions YTD have plunged by 20% vs. last year. Meanwhile, authorizations YTD for new programs are proceeding at the slowest pace in five years.”

Something To Ponder On A Sunday Night

Castles in the sky?

Here’s Where Demand For Stocks Will Come From In 2017

It’s been no secret that the bid for equities in 2017 has been largely attributable to “mom and pop” coming late to the party and scrambling to catch the proverbial wave by piling into passive ETFs that track equity benchmarks.  Here at HR, we call that the “Sharon” money. Of course there’s been another perpetual bid…

Chart Check (There’s Hope For You Yet)

For anyone still holding out hope that there’s upside for our standard valuation metrics beyond the 100th percentile, there’s always the old corporate buyback bailout…

Spot The Bid…

Better hope that repatriation holiday works out.

Here’s What Happens After A Tax Holiday

What does this do for the “silent majority”? Well, not much.

“That’s Why I’m Richer Than You”: Executives Miss Out On Dimon Rally

Earlier this month, I took a look back at Jamie Dimon’s decision to buy nearly $27 million worth of  JPMorgan shares in February. As it turns out, Dimon literally called the bottom. He also made a fortune. His average purchase price: $53.18. The stock now trades north of $86. Dimon gets to add the fortune…