Re:Berkshire: Bitcoin is ‘contrary to the interest of civili...
by saalweachter on Monday May 10, 2021 @09:32AM
(#27105791)
A trillion dollars a year are disbursed by the companies of the S&P 500 to their shareholders, in the form of dividends and stock buybacks. Berkshire Hathaway itself bought back $25B of its stock in 2020.
Re:Berkshire: Bitcoin is ‘contrary to the interest of civili...
by ragnese on Monday May 10, 2021 @10:36AM
(#27106413)
Buybacks absolutely count under speculation-then-bigger-sucker.
Re:Berkshire: Bitcoin is ‘contrary to the interest of civili...
by saalweachter on Monday May 10, 2021 @11:14AM
(#27106829)
The difference between a stock buyback and iterative speculation is that the "bigger sucker" in a stock buyback is the customer interested in the actual product being sold by the company.
However, my point is that people are not buying stocks to own OR to benefit the company. They're buying stock so that a "bigger sucker" will come around later and buy it from them and they can make a profit.
So I guess it depends on who we're talking about when we say "primary purpose", but for anyone who is purchasing stocks, the primary purpose is NOT to be an owner of a company. The primary purpose is to speculate.