$1.15 trillion in US company buybacks occurred last year, and nearly all of this capital remains in the market by flowing to other companies; buybacks do not remove money from the market and should not be treated as value-destructive black holes.
factualpending
Speaker
Aswath DamodaranEvidence Quote
“Last year, there were $1.15 trillion in buybacks at US companies. $1.15 trillion. And people act as if this just disappears into a black hole. That $1.15 trillion left the companies that bought back shares and went to other companies in the market.”
Source
Aswath Damodaran: I Am More Cautious Than Ever— The Master Investor Podcast with Wilfred FrostCreated: 8/12/2026, 6:41:25 PM
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