I see your point also, but history proves that most shares in a buy back are used for large amounts of options given to the officers of the company(in this case, RR) and really do not decrease the number of shares of the company. Check how many shares this dude is given on a regular basis and you will see my point.
"I would argue his fiduciary responsibilities rest in getting us the best bargain on the buybacks, and not to overpay."
You CAN argue that, but that is NOT part of a CEO's fiduciary duty.
"Maybe they're waiting to complete the buyback at the cheapest price possible before letting the price run up?"
Yepper, that sounds just about how RR feels about his fiduciary responsibility
There are a couple of posters on this thread that are very concerned about oil going lower. I have asked why, and don't get a reply. By the way, I own a refinery stock and the word there is they are doubling their crude orders buy crude at these low levels. Translated, more tank cars are needed not less.
Sentiment: Strong Buy
lots of shorts on here the last 2 days spewing their normal #$%$. You might think the oil companies stopped pumping and have no intention of ever pumping another drop. The shorts will always attempt to act like they know EVERYTHING. They are so funny. Time to buy, not sell.
I really would like to know what your theory on trucking being more attractive over rail. Kind of like saying a car is more attractive over a bus to carry multiple passengers. Also please remember, the drilling may slow down, but the pumping surely will not.
With the back orders this company has, they will be busy long after oil returns to normal pricing. Common sense will prevail over short term shorts
I believe it will be taxed as a cap gain. The dates when you acquired the stock will be the determining factor as to it being long or short term.
Speaking of Einhorn's calls,
"Other calls, however, have paid off, such as bearish bets against Athenahealth (ATHN) and Mallinckrodt (MNK)."
How does shorting MNK @ below $70.00 translate into paying off when the stock is trading @ $87.50????? People actually read this rag?