“…In the first quarter of 2018 alone, with the new tax law fully in force, American corporations bought
back a record $178 billion in stock.21 During this period, the market hit record highs. When a corporation buys stock, it should be governed by the maxim that applies to any investor: buy low,
sell high. Yet because this frenzy of corporate stock buybacks happened when the market was at a
record high level, it contradicts any claim that they were sound business decisions…”
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