23 Mar
2019
23 Mar
'19
5:53 a.m.
Share buy-back. It's such a great US tradition! Some years ago I spent time following the volume of shares being traded on HP stock and the volume of HP stock that HP was buying back. From my calculations the largest single trader of HP stock was HP. At that time HP was marketing itself with the phrase "Invent". One could have been mislead into thinking HP was spending their cash on Research and Development, but it appears that they spent it on share buy-back.