Video Link: https://youtu.be/_HeSy1BM3cE
It is always better to buy back shares at lower price.
It is acceptable for *wonderful* companies to buy back its shares at a high price however, it depends on their reasons of doing so.
Repurchase of shares must be well reasoned.
[Full Videos of Berkshire Hathaway Annual Meeting 1998]
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[My 2 Cents]
The question was asked by young Bill Ackman.