 | | Andy Snyder
Manward Press | If Biden hates it... it's likely because it can make you some money. Yep. We said it. Prove us wrong. [Have You Heard of the Bargain in Today's Market? Don't Miss Out] The latest evidence comes from a hardly discussed idea in the president's State of the Union speech earlier this month. He already wants to quadruple the 2-month-old tax on corporate buybacks. Why? Because the current 1% tax isn't working. Folks are still making oodles of dollars as companies buy back their shares. In fact, despite his heavy hand, it's looking like it'll be yet another record year for buybacks. That's good news because without buybacks... the stock market would be in even worse shape. Let's put that another way - a much simpler way. The only group buying stocks right now on a net basis... are companies buying back their own shares. Institutions are selling. Retail investors are selling. Hedge funds - which are supposed to make money no matter what - are sitting on their hands. But big companies... they're buying. 
View larger image Meta Platforms (META) bought just shy of $7 billion worth of its own stock during the fourth quarter of 2022. It just announced its intent to purchase another $40 billion worth. The stock is up 40% so far this year. Oh my... somebody won't like that. How about Apple (AAPL)? It hasn't had all that much luck getting folks to buy its products lately. But it sure has bought its own shares. It grabbed $20 billion worth late last year. It's expected to buy another $85 billion worth this year. Despite flat growth, its shares are up 20% this year. And, of course, Mr. Biden went after the oil industry in his big speech. Exxon Mobil (XOM) - that oh-so-greedy company that just happens to make a product we are willing to fight wars over - bought $15.2 billion worth of its stock last year. It intends to maintain that pace over the next two years. It's great news for shareholders. We don't have to tell you how strong the last year has been for oil. It all raises a very simple question. If buybacks are the only thing keeping the market afloat... shouldn't we all be cheering for them? More importantly... shouldn't they be the No. 1 influence in your portfolio right now? Yes on both counts. A very big yes. Buy companies that are buying their own stocks. They'll make you money. Be well, Andy Want more content like this? | | | | | Andy Snyder | Founder Andy Snyder is the founder of Manward Press, the nation's premier source of unfiltered, unorthodox views on money and what it means for a free society. An American author, investor and serial entrepreneur, Andy cut his teeth at an esteemed financial firm with nearly $100 billion in assets under management. He's been a keynote speaker and panelist at events all over the world, from four-star ballrooms to Capitol hearing rooms. | | | | 
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