Buyback Derangement Syndrome” won an “Outstanding Article” award in the 20th Annual Bernstein Fabozzi/Jacobs Levy Awards, recognizing it as one of the best articles appearing in The Journal of Portfolio Management during 2018, based on subscriber voting. Read more here.
Journal of Portfolio Management
A seemingly large amount of stock buybacks in recent years has prompted many to claim that buybacks have come at the expense of new investment. Our latest paper shows why neither the theory nor the evidence supports this view.
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