--- title: "Meaning & Key Takeaway of: blame. Consider the 449 companies in the…" description: "\"“blame. Consider the 449 companies in the S&P 500 index that were publicly listed from 2003 through 2012. During that period those companies used 54% o..." image: "https://sms4smile.com/quotes/i/60d/anonymous-1_investing_blame-consider-the-449-companies-in-the_1218583.jpg" --- # blame. Consider the 449 companies in the S&P 500 index… ![“blame. Consider the 449 companies in the S&P 500 index that were publicly listed from 2003 through 2012. During that period those companies used 54% of their earnings—a total of $2.4 trillion—to buy back their own stock, almost all through purchases on the open market. Dividends absorbed an…” quote by Anonymous](https://sms4smile.com/quotes/i/60d/anonymous-1_investing_blame-consider-the-449-companies-in-the_1218583.jpg) [Download](https://sms4smile.com/quotes/i/60d/anonymous-1_investing_blame-consider-the-449-companies-in-the_1218583.jpg) [Open image](https://sms4smile.com/quotes/i/60d/anonymous-1_investing_blame-consider-the-449-companies-in-the_1218583.jpg) > ““blame. Consider the 449 companies in the S&P 500 index that were publicly listed from 2003 through 2012. During that period those companies used 54% of their earnings—a total of $2.4 trillion—to buy back their own stock, almost all through purchases on the open market. Dividends absorbed an additional 37% of their earnings. That left very little for investments in productive capabilities or higher incomes for employees.”” [Anonymous](https://sms4smile.com/quotes/author/anonymous/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Companies spent most of their earnings on stock repurchases and dividends, leaving little for investment or employee wages. **In simple terms:** Buybacks and dividends dominate earnings use. Key Takeaway Prioritize reinvestment for growth. Themes finance corporate governance labor Mood critical concerned Type analytical policy‑focused When to use this quote - shareholder meetings - budget planning - policy advocacy Key Concepts stock buybacks dividends productivity wage stagnation Questions to Reflect On - Should firms limit buybacks? - How can employees benefit from retained earnings? A Different Perspective Short‑term shareholder returns can limit long‑term economic health. ★ ★ ★ ★ ★ No ratings yet [Customer](https://sms4smile.com/quotes/about/customer/) [Dividends](https://sms4smile.com/quotes/about/dividends/) [Investing](https://sms4smile.com/quotes/about/investing/) ## Related quotes > [I don't like stock buybacks. I think if a company has the money to buy their stock back, then they should take that and…](https://sms4smile.com/quotes/t-boone-pickens/i-don-t-like-stock-buybacks-i-think-if-a-company-has-the-money-to-buy/) [T. Boone Pickens](https://sms4smile.com/quotes/author/t-boone-pickens/) > [A stockbroker urged me to buy a stock that would triple its value every year. 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