S&P 500 Buybacks*
*Rolling four quarters data. $5T since 2009.
**Tax Cuts U.S.
***Year to date Q2
— Lawrence McDonald (@Convertbond) October 20, 2019
The buy-backs off set the granting and then exercise of corporate options … allowing the people at the top to cash out without diluting their shares. Also …. shares are being sold to ETFs. General public have gone ape-shit over passive ETFs. Plenty of evidence who is buying at the top … while CEOs dump at historic levels.