I have just come across an article published by McKinsey & Company in October. It looks at the ability of company executives to time share buy backs in the USA -
Many of us would expect that company executives have some kind of insider knowledge that would allow them to better time the purchase back of company shares. Unfortunately the study undertaken by McKinsey suggested anything but such skill. In fact, 77% of companies did worse in their timing of share buybacks compared to simply gradually buying back shares regularly over time.
Another powerful reminder of the dangers of trying to time entry into and out of share investments.