(CNBC) Warren Buffett defended stock buybacks in Berkshire Hathaway’s annual letter, pushing back on those railing against the practice he believes to be beneficial to all shareholders. “When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive),” the 92-year-old investor said in the much-anticipated letter released Saturday.
Warren Buffett calls stock buyback critics ‘economic illiterate’ in Berkshire Hathaway annual letter
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