Stock Buybacks: Why This $800 Billion Practice Might Be Distorting Your Investments
U.S. corporations spent more than $800 billion repurchasing their own stock in 2025, a record amount. But this dizzying figure masks a controversial reality: much of the market’s apparent strength over the past five years has been driven not by genuine earnings growth, but by financial engineering that artificially inflates per-share metrics. If you own…