Robin T Cox wrote:
But investors and the market may very well conclude instead that, since MS
have spent their cash on buying back shares rather than using it for
profitable future investment, their prospects going forward are not too
great.
I really don't think you can conclude that. It's purely wishful
thinking on your part. One couild just as easily conclude the
opposite - that they wouldn't buy shares that they thought were going
to decrease in value.
