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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: LauA who wrote (9407)	12/23/1999 3:24:00 PM
From: James Clarke	Read Replies (2) \| Respond to of 78486

I've never known a company to buy back shares without announcing it in advance. There are two possible explanations for that: 1) There is an SEC rule to that effect; or 2) Managements typically want to announce the buyback to make the stock go up. The way Buffett thinks is totally different from the way most CEOs think regarding #2. If I were an owner, I would not want the stock to go up. I'd want to execute the buyback at a cheaper price, THEN announce it. As this may be considered material information, you're probably not allowed to do it that way, but if there is no such rule, it would not surprise me at all if Buffett is buying beneath the radar.