how many shs does ibm have to buyback from management options per year before they start to reduce the issued and outstanding ? Guess what, the first share brk buys reduces the issued and outstanding because team brk doesn't steal our equity year after year. WHY was ibm a better value than brk ? thanks bud.
Let's give it some time and we'll see. Note: this looks the same--Pension Assets-12/12 $84.3 bill. Oblig. $105.5
Buybacks verses options issued? In 2003 there were 1.695 billion shares and per Value line they'll have 1.075 billion at year end 2013. That's 37% fewer shares in 10 years. If you do the math they're buying back 5% of their net outstanding shares per year.
I'll continue adding a few shares each month until it's fairly valued.
my guess maybe 1-2 % a year are options the balance reduces the issued and outstanding prior to option grants. That's why buybacks at brk would have been so powerful, too bad buffett never understood it, oh well.