An excellent post @Big Short There is no justification for the...

An excellent post @Big Short

There is no justification for the buy back, it is simply irresponsible

Growth has gone from 43%, to 28% to 20% ... that is over a 50% drop in 2 years

The market has only priced the "near miss" into the stock so far, being the 28% result. With growth slowing to 20% next year, and no more technology avenues left to spruik, there isn't much exciting going on - naturally you'd expect the SP to drift lower to reflect the business fundamentals and no longer hype

To suggest the buy back won't benefit the CEO is nonsense. Just because he isn't selling directly into it, doesn't mean he won't benefit ... without that $300M of support, the SP would like be much lower whenever he does decide to sell

Doubling LT borrowings, to buy stock on a PE of 30, at 250% of the NPAT - its unheard of. Don thinks he is running a tech company