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The ins and outs of share buybacks

Insiders look at the future when buying for themselves, but buybacks are done for the present

WHEN THE CHIPS ARE DOWN: Corporate insiders have impeccable timing when buying stock for their own accounts. When the ratio of insider buying to selling is higher than normal at many companies at the same time, it tends to be near a market low.

IS it a hopeful sign for the stock market when executives and directors step up purchases of their companies' shares? It depends on whether they're trying to enrich themselves or their shareholders, and not in the way you might expect.

Corporate insiders have impeccable timing when buying...

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