I agree that buying back shares is not totally beneficial for the company if done with all there cash. If a percentage of cash is used for buybacks and the remainder for growing, that's the best. But look at this scenario, if the company buys back shares and retires them it is great for the shareholders by nature of supply and demand plus earnings per share. Another idea is buying back cheap shares and using them to acquire assets when share price is much higher. Good luck.
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