Here is a good one: http://seekingalpha.com/article/3962730-buybacks-killing-america Here is an older article but its a good one. The figures have only become worse since then. https://hbr.org/2014/09/profits-without-prosperity Bloomberg did a good article earlier this year about it too, though Im not sure if that stat was in it https://www.bloomberg.com/news/arti...buyer-keeping-the-s-p-500-s-bull-market-alive Buybacks and Dividends combined account for around 80%+ of Earnings Per Share for S&P 500 companies. That means those companies used over 80% of their revenue to reward shareholders. Robotrading has exacerbated how buybacks are able to inflate stock price. Many algorithms use volume as one of the main measures for what to buy/sell. And most of them do not tell the difference between a buyback and natural demand, they treat the two things the same.