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Saturday, 01/05/2019 2:02:10 PM

Saturday, January 05, 2019 2:02:10 PM

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IBM has lost 20% of its value in 2018. The company bought back $50 billion of its stock between 2011 and 2016 and ended the second quarter with $11.9 billion of cash on hand; but its debt totaled $45.5 billion. In other words, these companies are destroying their balance sheets for a short-term boost in stock prices that has now gone into reverse
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