Funny how share buybacks were at one time considered "stock manipulation" and were illegal. I guess they eventually figured out that "rigging the markets to go up" benefitted enough of the "right" people so should be allowed... kind of like Congress being allowed to conduct stock trades on inside information.
I have sorta answered this before... LQD is yielding 3.5%, SPY is forward yielding 6%..... 2.5% gap is huge.... only idiots will not pick this free 2.5% up simply by issuing paper to keep the buy back going... on the other hand it also shows the insanity of buying the bonds. when SPY gets to $500 this gap will disappear assuming the LQD yield and SPY earnings stay the same.... that's why I keep saying, SP fair value is 5000, RIGHT NOW.
i know it sounds crazy... but pls point out any flaws in my math. how many people made money shorting 2008? to make big dough you need a vision, and an unpopular one.... but the math is solid... no? actually 3 years ago I had a thread called 'are we gonna run out of shares'... when the QQQ was at 105... today the fundamentals still have not changed. and that's how financial independence is achieved.