Mark Cuban Makes a Good Point

He says that AIG, Merrill Lynch, and Lehman Brothers all had one thing in common: share buybacks during the past 18 months or so. I would say “a ha!” if I understood exactly what that means. But I do get rather confusingly typed conclusion:

One last point, has the irony of 3 of largest companies in the country who make their money giving financial and insurance advice to companies and individuals, are facing ruin from the advice they gave themselves ? If this isnt a lesson to every individual who is taking advice from an investment firm, i dont know what is.

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Comments

10 responses to “Mark Cuban Makes a Good Point”

  1. Long Memory says:

    Here’s another lesson: All these big companies want to buy out the competition not to create a monopoly. What they really want to do is to make themselves TBTF. Too Big To Fail. That’s why the CEOs get the big money. They try to make their company TBTF. Whether it’s realistic or not.

  2. El Rey says:

    …and when the TBTF companies topple, the government steps in and picks them back up. Just like they did with the airlines after 9/11/2001. Corporate Welfare at its finest!

  3. Gwyon says:

    This can’t be happening.

    Wick, Glenn! Say something positive!

  4. Ex-E, Ex-S says:

    Has anyone other than me noticed that the regime of the past 8 years spent the first four years encouraging mr and mrs mainstreet america to become responsible for their own retirement accounts instead of depending on pension plans and social security, and now the very same companies that so many Americans trusted their 401K and 403B accounts to are failing left and right…. and the rich get richer.

  5. mark cuban says:

    dang eric. bought had a heart attack when my rss reader popped in your headline…

    I take it all back 🙂

    m

  6. bleacherseats says:

    With so many suits going down the drain, who’s going to sit in all those luxury suites?

  7. DM says:

    mark also makes a good example here of SEO in action.

    d

  8. gs1s says:

    Haven’t read Cuban’s post yet, but a share buyback is a pretty common way for companies to use their cash to provide a return to their shareholders in the most tax-efficient manner permitted under our tax laws. There are hundreds of companies that complete buybacks each year that do not fail. Selection bias.

  9. Eva says:

    Whats worse:
    Cuban’s opinion, or your taking it into serious consideration?
    Seriously………?