Buyback Perplexity? Try Italy. (EWI,GLIBA)

Buyback Perplexity? Try Italy. (EWI,GLIBA)   Our partner in crime here at The Modern Bull, Her Majesty’s Senior Liege, Hugh L. O’Haynew, earlier this week outlined a quasi-criminal project so widespread in corporate circles today that the Securities Exchange Commission felt compelled to investigate it.   The transgression?   Corporate insiders selling their holdings on the heels of share buyback announcements. And one might wonder, what’s the big deal?  Fellow wants to turn a buck; let him sell into strength.  Hell, let him sell whenever he wants!   But there’s more to this little trickster play then meets the eye, my innocent little doe-eyed peach.  For the endgame may not be so straightforward as ‘turning a buck’, or cashing in to pay for daughter Wilma’s graduation dress.  Oh no… Conspiracist Banter There are those of us in the investment game who are more jaded, you might say, and can’t help but think that these sales are coming precisely now because corporate players are worried that the highland jig is up.  And they’re implementing the buybacks as a prop to get out of their positions at a time when confidence is thinning and mom and pop market participation is thin-thin-thin.  …

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