Very recently Buffett supported stock buybacks. Calling people financially illiterate if against them.
The problem with it depends on the financial statements of the individual corporation. There has always been companies Buffett would not buy. Most companies after looking at their financials WEB would not buy. So why would he generally put faith in stock buybacks. Calling people illiterate for complaining is not where its at.
92 looks good on Buffett. Most people would have totally given up investing for themselves as much as 15 years earlier. 92 is not working out going forward for Buffett but ya’d never know it because BRK has more momentum than anything on earth.
“The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up,” Buffett wrote. “Every small bit helps if repurchases are made at value-accretive prices.”
Value accretive prices depend on good financials. That locks out many companies from using stock buybacks at all. Buffett misses that point when he rails about the critics. The critics are not really just of him.