There's not a lot in this world that brings a smile to the melancholic blarney face of Brian T. Moynihan.
For the Eeyore of Wall Street, every day seems to bring a fresh hell that he faces down with the beaten stoicism of...well, an Irish Catholic running Bank of America. Looking back at the last few years, the most positive thing that BriMo can likely say is "At least I'm not Stumpf or Cryan." Another little piece of sunshine that BriMo can put in his pocket is BAC's stock performance.
The last year alone has been a nice break from the existential ennui that plagues the mind of Moynihan. Just look at it:
Not too shabby. So if BriMo has maybe developed a little buyback habit in the fog of the strange sensation that we call glee, who's to say that he has a problem?
Definitely not the man himself:
Bank of America Corp will continue to favor share buybacks over a dividend increase to avoid putting itself in a position where it may have to reduce the dividend in the future, Chief Executive Brian Moynihan said at a conference in London on Wednesday.
What's the big deal? Can't we let him have this? It's not like he's the only one doing it. And this is BriMo, you guys, he's the platonic ideal of self-control and restraint. He can stop whenever he wants....
“Our stock’s a good buy and we’ll continue to buy it until the cows come home,” he said.
Okay, so he might have a little problem. So what, BofA shareholders? Are your dividends more important than his happiness?
Can't you just let Brian Moynihan LIVE?!