Uit het
artikel van Michael Snyder:
Most Americans don’t realize this, but the primary reason why stocks are doing better in the U.S. than in the rest of the world is because of stock buybacks. According to Wolf Richter, corporations spent more than half a trillion dollars buying back their own stocks over the past 12 months…
(...)
When corporations buy back their own stocks, that means that they are slowly liquidating themselves. Instead of pouring money into new good ideas, they are just returning money to investors. This is not how a healthy economy should work.
But corporate executives love stock buybacks, because it increases the value of their stock options. And big investors love them too, because they love to see the value of their stock holdings rise.
Jp, dit is de reden waarom de Amerikaanse beurskoersen zo hoog zijn. Kortom, het Plunge Protection Team aan het werk. Maar dit kan niet eeuwig goed gaan:
So we will continue to see big corporations cannibalize themselves, but there are a couple of reasons why this is starting to slow down.
Number one, corporate profits are starting to fall steadily as the economy slows down, so there will be less income to plow into these stock buybacks.
Number two, many corporations have used debt to fund buybacks, but now it is getting tougher for corporations to get new funding as corporate defaults rise.
As stock buybacks slow, this is going to put downward pressure on the market, and we will eventually catch up with the rest of the planet. At this point, many experts are still calling for stocks to fall by another 40, 50 or 60 percent from current levels.
(...)
When the S&P 500 does fall that much eventually, the Federal Reserve will respond with emergency measures.
Kortom, jij begrijpt niet werkelijk wat er aan achterliggende mechanismes spelen omdat je alleen maar uitgaat van de voorkant, de facade van de beurskoersen.
Mike
