US Equity Market
By John Schroy, on March 8th, 2006 |

Over the last five quarters, the annual rate of dividends paid by US non-financial corporations has fallen by two-thirds, from $462.2 billion to $160.5 billion.
The apparent reason for this negative trend is the intent of corporate management to radically increase stock buybacks in order to boost the value of executive options.
Fund management
By John Schroy, on March 7th, 2006 |

Legg Mason, the giant asset management company that was recently sold off by Citigroup, issued a report on January 10, 2006 by Michael Mauboussin, Chief Investment Strategist, entitled, “Clear Thinking About Share Repurchases”.
The general tenor of the Legg Mason commentary seems to be favorable towards buybacks, especially extremely large buybacks that are aggressively pursued and that, presumably, are more effective in jacking up stock prices and making investment managers look good.
Popular Articles