https://www.barrons.com/articles/bp-bought-exxon-stock-sold-apple-chevron-microsoft-51628615287
3 replies (most recent on top)
EM invested over 200 billion dollars into stock buybacks.
The Rate of Return appears to be negative as the purchases were at peak prices. Seems like a horrible business decision. Please explain how this was a good decision.
What if we just kept that cash in rainy day fund to avoid all debt during downturns?
What if EM had invested that 200 billion in BP or Chevron stock?
They must like the dividend.
BP knows how to pick a winner.