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Warren Buffett said in February only the economic illiterate could dislike them, so does that make the latest trend in stock buybacks dumb?

In the three months leading to June, S 500 companies spent just $175 billion on share buybacks, a 20% tumble compared with the year before, according to preliminary S data reported by the Financial Times this past weekend, the lowest amount since the early days of the pandemic. With interest rates likely to stay elevated for the foreseeable future, a buyback comeback isn't in the offing, analysts say.

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Source Fool.com