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Major U.S. indices ended Tuesday in the red with the S&P 500 declining 0.20% to 4,538.19 and the tech-heavy Nasdaq falling 0.59% to 14,199.98.

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For many years, I’ve seen prominent investors criticize stock buybacks. In the worst examples, they’ve said buybacks provide only a one-time lift to earnings with no long-term benefit ...

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