Heroic solitary security analysts, like Warren Buffett and Benjamin Graham are figures of the past — vestiges of forgotten times when capital markets were much, much simpler than today. […]

Despite a seemingly fatal blow from the Crash of 2008, stock buybacks live on, like the creature at the end of a horror film, whose sinister claws rises from the muck, just as the good guys are celebrating victory over evil. […]

In the article, The quarter-century buyback era draws to an end, I announced the demise of the dominant role of stock buybacks in the economy, although there has been no official death certificate and the body has not yet been found. The buyback era began in 1982 when the US Securities and Exchange Commission promulgated Rule […]