Daily Speculations

The Web Site of Victor Niederhoffer & Laurel Kenner

Dedicated to the scientific method, free markets, deflating ballyhoo, creating value, and laughter;  a forum for us to use our meager abilities to make the world of specinvestments a better place.



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Buybacks Are Good

Buyback Study Update

The 76 companies which have announced buybacks so far in 2006 have outperformed the S&P 500 by 1.8 percentage points, while stocks announcing buybacks in 2002, 2003, 2004 and 2005 have outperformed the S&P by 13.7, 16.4, and 10.0, and 4.2 percentage points since inception respectively.  Buyback stocks tended to outperform particularly well in the year in which they were announced, and they also continued to outperform in subsequent years (as can be seen in the enumerations below).

Year-by-Year Enumeration:

2006 Buyback Performance. (Apr 11, 2006)

2005 Buyback Performance. (Apr 11, 2006)

2004 Buyback Performance. (Apr 11, 2006)

2003 Buyback Performance. (Apr 11, 2006)

2002 Buyback Performance. (Apr 11, 2006)



Find Vic and Laurel's original buyback article here.

We're Buying 8 Companies That Buy Themselves 1/16/2003