The Buyback Letter is intended for experienced investors who understand the risks, costs, consequences and mechanics of investing. The Buyback Letter carefully analyzes each buyback stock and each buyback company, separating rhetoric from reality. The editor pores over announcements, scrutinizes quarterly and annual reports, and talks to company officials, lawyers and competitors. The newsletter includes buy, sell and hold instructions, a featured article, a choice of six model portfolios with a range of risk and activity each month, news briefs, charts and weekly hotlines—everything investors need to know about investing in companies that repurchase their own shares.