Thursday, 23 August 2018

Modigliani-Miller theorem repealed, reports PBS


Link here. 

In case you don't get it, see previous posts on buybacks here and here, that explain how buybacks do not affect share prices, and certainly cannot cause the rise since 2008.

Thanks to a correspondent for the pointer.


from The Grumpy Economist https://ift.tt/2w7jdH2

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