Stodgy investors
drip, drip, drip, the investment grows on average, drip, drip ...
Those types of investors would like that kind of company and investment policy. They can buy the stock of a mature, steady company and more or less forget about it. They are happy to receive their regular dividends, and also benefit from the support of the buybacks.
That's not my style, and it couldn't have been Sam Walton's style either.
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