Alpha Pro Tech (APT)

[xanadu]

IMO an interesting view about buybacks. This comment was in an article regarding Warren Buffet's Berkshire Hathaway and Campbell Kraft Foods.

"Buybacks allow a company to inflate its own stock price, and are generally seen as a sign a company’s stock is undervalued. Buybacks were illegal and considered a form of market manipulation until the Securities and Exchange Commission gave the practice the green light in the early 1980s.

“It’s pure fraud,” Keiser continued. “Its sole purpose is to commit accounting fraud for the benefit of insiders.”