Jack, I totally agree. Although it looks as if Apple is acting in the best interests of its shareholders, share buybacks are an all too frequently resorted to scam to goose a stock price, but add nothing to the soundness of the underlying business. Apple isn't the only company doing this, nor maybe even the most egregious one. The Fed and their monetary polices and interventions are distorting the economy beyond the possibility of it ever recovering in even our grand children's lifetimes. Yeah, right now, "investors" are becoming as rich as Croesus, but at the cost of destroying the source of genuine capital formation. This is not going to end well for anyone. Charlie
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