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Today I learned that Ronald Reagan made buybacks legal in 1982 Now I’m gonna have to re-read The Outsiders and figure out how Henry Singleton avoided jail after buying back 22 million in Teledyne shares during the 1970s bear market https://t.co/ZaX0qoAVIZ
In his 1980 shareholder letter, Warren Buffett extols the virtues of share buybacks. If my math is right, 1980 was before 1982. https://t.co/AfZzX8JRXV https://t.co/phto1XLC9M https://t.co/q37etN6nwx
This is incorrect. Buybacks were legal but the boundaries were unclear. There were lots of buybacks prior to 1982. https://t.co/q37etN6nwx
Stock buybacks, previously illegal until Reagan's 1982 legislation, have become prevalent. Some view this as a negative signal due to limited reinvestment opportunities and uncertain M&A prospects under the current administration. However, historical context suggests buybacks were common even before the legal change, with Warren Buffett advocating for them in 1980. The debate continues on the impact of buybacks on wages and economic trends.