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Thursday, August 25, 2016

"Unsung Heroes": A New Category For The BuyBack Kings

It's time to acknowledge companies with dedicated buyback programs. They have demonstrated a willingness to step up to the plate in good times and bad. They have bought shares practically every quarter, reducing market timing risk.

To be included in the "Unsung Heroes," companies must have purchased at least 20% of their shares during the last decade and bought back shares during the "Great Recession" (Hey, it's my category, so I get to make the rules).

By the way, Exxon Mobil (XOM) actually took down 10% of its shares smack in the middle of the recession when most companies halted their buyback programs. Incredibly, Wal-Mart, Exxon, Intel, and IBM all reduced share count significantly during the "Great Recession." That took a strong resolve. With the collapse of equity prices, those buybacks were well-timed.