As you can imagine, most of these have been jumbo losers:
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Chart via Jake at Econompic
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Marketbeat:
Share repurchases by components of the Standard & Poor’s 500-stock index fell to lowest level in the fourth quarter of 2008 since the third quarter of 2004, according to S&P, as companies retreated into a hole, preserving cash as the market tanked.
According to the Federal Reserve’s flow of funds data, released quarterly, the biggest buyers of shares in the 2005-2007 period were U.S. corporations, coming at a time when households and mutual funds were net sellers of U.S. equities. The frenzy hit a peak in the third quarter of 2007, according to Standard & Poor’s, when $171.95 billion in repurchases took place – dovetailing neatly with the market’s peak.
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Source:
If Corporations Don’t Buy Stocks, Who Will?
David Gaffen
WSJ MarketBeat March 26, 2009, 12:08 PM ET
http://blogs.wsj.com/marketbeat/2009/03/26/if-corporations-dont-buy-stocks-who-will/
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