Joel Greenblatt on Relative Value Investing (Podcast)
Masters in Business
00:00
Is It a Correlation or a Causation?
A number of studies have shown that companies with big stock buybacks tend to outperform their peers. David Frum: Causation has to do with smart management who only buyback stock when it's selling it at discount and they're right. He says he wouldn't put any weight into any study that just looked at generically company that buy stocks back.
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