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The $100-trillion withdrawal from global stock markets

By J.L.M. Campuzano, in Madrid | After four gloomy weeks, we finally get to see a welcome development: cash is now paramount. In a macroeconomics scenario like the current one, the answer to the question “what will companies spend their high cash flow on?” seems clear: share buybacks. But this is a conclusion that is still to become obvious. Meanwhile, we should be concerned with the end investor’s money. It…