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I see your point and agree somewhat. In the case of local real estate (Canada), the prices have gone out of control. I was wrong making a blanket statement across the board regarding all companies. I am referring to companies that deal in construction that are supplying a vulnerable sector. I'm not familiar with everyone but I do know that buy backs started in February with the one that I'm tracking. I'm waiting for unemployment to pickup as demand dies down anticipating acceleration to the downside. I don't think that tariff wars will benefit the global economy and am taking steps to minimize the effects to my finances. Commercial real estate in particular has fallen off a cliff and I'm following the path that leads back to whoever is on that train to capitalize on this.
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If the market is struggling there's a chance the company is taking on debt to buy back their shares to prop up their stock price. You'd want to be reading their annual reports to know. But that's a slim chance. Generally if they're doing a buy back it's because they're doing well. Is the market actually doing bad or have the prices just gone up?
Sumo
If a company is buying back their stock it's because they've got too much cash and don't want to put it in the bank.