Biotech Values

[DewDiligence]

MON’s quarterly earnings were pretty much as expected. The big news is that they’re using $11B to buy back their own stock instead of using it for M&A—a decision that I fully support.

Leveraging the balance sheet by borrowing at low interest rates (see #msg-103764173) to buy back stock is an almost surefire way to boost EPS. More companies with strong balance sheets should do it.