"Buybacks are the primary example of a growing strain of incompetence amongst CEOs and amongst boards," Palihapitiya said on CNBC's"And it's where we need to start thinking about how the rules need to change."
"Since 2009, the 500 companies in the S&P 500, they bought back $7 trillion of stock and or issued dividends that turned out to be more than 90 cents of every dollar of profit that they made over the last 11-plus years. The federal government, as well as the Fed, between monetary and fiscal stimulus combined, have essentially transferred around $7 trillion now back to those said companies as well as companies slightly smaller than them," he added.
Ok I am not a Trump fan but he may have something on the disifectant in body. Iodine, ozone therapy, copper, oxygen (hyperbaric oxygen chamber) it is all disinfectants that we can take internally. It all has to be done minimally. If you overdo anything you can cause harm.
Underrated bit...
stocks used to make sense and added up correctly, but now a tool for manipulations. Same goes for stock market and many marketeers.
Chamath is correct! Its a FED fed rally. Chickens will come home to roost one day!
I have watched the first and second round twice - the second round was even more comprehensive. Great interview. Way to go for the kill shot on IBM v Apple - sorry ScottWapnerCNBC. 🥊chamath - respect buybacks socialcapital 🙂
Thought he was going to throw in Hydroxychloroquine & Zinc plus AZ works fine on many patients who are Covid Survivors at the end- Told it like it is-
The capital system is broken. Agree with chamath. Can it be fixed? Yes, it can. We need brilliant lawmakers & the government to make the changes. We need the gainers to be more conscious & give back to society. We need to start a quasi decentralised model. Maybe a bit of DeFi.
Companies use low borrowing costs to buyback their own stock instead of using it to invest in real-world projects that will improve real prospects for the company and the world. This mechanism exposes a HUGE short-circuit in the capital markets.
Hopefully soon People will realize the paradigm we live in is not feasible long term. On a long enough timeline, the survival rate for everyone drops to zero.
there's no sense getting angry for the unfairness in the world..just become a Hermes or LV shareholder so at least you are making money off rich people getting richer.
I didn't get why Hermes or LV stocks bounced back so strongly since end of March.. I was just focused on buying consumer staples stocks.. that's because people who can afford to borrow at such low interest rate to buy things on sale have made more money since then.
a come back ? will ever be $148.93 a barrel again hmm
Naturally, CommieCast found a radical left-winger and now they broadcast him everyday.
Wow. No shit? Really? Capitalist pigs stealing?
Chamath 2-0
this is ridiculous to listen to - share buy backs are a tool mgt/ boards have engaged in for a century.. to critize them after a once in a century world wide shut down as incompetence is idiotic... this guy is a nothing more then an audience seeking
RickDronkers Chamath strikes again
Couldn't agree more. How many Apples are there versus IBMs? There are way too many of these companies that are borrowing to buy back stock or pay dividends. Then in a crisis they have their hands out asking for money.
so true. The system is broken.
The corporations are being bailed out, the farmers, the restaurants, the gyms, the airlines, the banks, real estate, hedge funds, the stock market, oil companies, colleges and everyone in the United States gets to stay home for 3 months, get $1200 and collect unemployment
CNBC is there to push people into stocks. CNBC works for corporate billionaires.
If they want to buy beachfront condos or house in the Hampton, they need to do it with their own money and not with government hand out of my hard earned dollars. As it is, these people barely pay any taxes.
CNBC anchor got schooled BIG TIME. saw the previous interview, i guess he was trying to 'get back' at chamath the second time, but it backfired. nice analogy/example offered. BUYBACK not bad in general, it depends on the nature/circumstance you initiate it.
Damn Wapner needs to stick to interviewing amateurs that are given a script. He can’t hang with Chamath chamath
pat_fahey15
Let’s have Cha-MOUTH on once a week Scott. That should help ratings at HalftimeReport 🤦🏻♂️
A great common sense message by chamath. It's a shame hat more people do not share this belief.
This guy gets it.
👏👏👏
Why is CNBC giving screen time to this man? Just click bait and ad revenues. Nothing more.
Aff.... Most do not have conscience or do not care ! Only say pay first please.
What did Scott do wrong that CNBC sends him out to get dunked on every single time by this guy
Apple... biggest tax cheat in history
He's against white collar robberies, legal robberies and people have problem!
Buybacks were considered a market manipulation till 1983! It was changed like everything else to suit the elites and their manipulation of pretty much everything in America.
There is nothing wrong with doing buybacks in general. It depends how it is done
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