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>> PHILLIPS 66 Latest News

JAN 23, 2014 - Zero Hedge

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Sorry Permabulls: 2014 Capex Forecast To Grow At Slowest Pace In Four Years

Nearly two years ago, before the topic of (the great and constantly missing) Capex became a mainstream media mainstay, we said that as long as the Fed was actively engaged in manipulating the capital markets - and this was before the Fed launched its endless QEternity - the bulk of corporate cash would go not into investing for growth, i.e., capital spending and/or hiring, but dividends and (levered) stock buybacks. Nearly $1 trillion in stock buybacks later, and zero growth Capex, we were proven right, much to the chagrin of permabulls who said the capex spending spree is just around the ... Read More

Tags: Sorry Permabulls: 2014 Capex Forecast To Grow At Slowest Pace In Four Years,  Phillips 66 Latest News