6 Comments

Wesley, not to be picayune, but it is not necessarily true that issuing shares destroys SH value over time - it depends. If a company is issuing shares but in turn can reinvest those funds at a return greater than the required return on its shares, then it is creating and not destroying shareholder value. It is true that for a company with a declining share count, ceteris paribus, each share will represent a greater ownership % of the company and more FCF / share.

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ok thank you for the commment. much apprenticed

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Thanks, but why assume such a low growth rate?

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I am trying to be conservative

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Thanks Wes, enjoyed reading it 👏🏻👏🏻

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Thanks man I appreciate it

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