@marting @Kelly_Evans Yes. If the value is zero in 10 years and the mkt is pricing it to be zero in 5 years buybacks are good
— Bill Miller (@billmiller_lmm) March 3, 2015
H/T Dataroma
Bill Miller Defends IBM’s Buyback Strategy
Druckenmiller, in a “Closing Bell” interview, said he thought IBM was facing a secular problem rather than a cyclical one.
