"Folly For The Ages": After Buying Back 63 Million Shares At $83, Hess Just Sold 25 Million Shares At $39
February 06, 2016 at 19:16 PM EST
Having long mocked the sheer idiocy of using organic cash or worse, debt proceeds, to fund buybacks just so management can eke out a few more million in equity-linked compensation we were delighted to see the buyback bubble begin to burst in 2015.