Thanks, Mario! The Financial Engineering Disease Spreads To Europe

.......First off, they looked at cumulative free cash flows over the five years between 2012 and 2016, and then compared them with shareholder payouts and M&A spending. In every sector, except telecoms, free cash flow was exceeded by combined dividends, buybacks and deal-making, as this chart shows:

 

 

https://www.bloomberg.com/gadfly/articles/2018-02-27/european-companies-alarming-leverage-levels-in-charts

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