very good take. automatic buybacks esp in trending markets works exactly like a cheat meal - feels great in the moment but creates negative consequences after. got me thinking about $CARDS actually. solid product, good revenues, and a long-term focused team who made the "unpopular decision" of not channelling those revs into buybacks to support price. this and similar projects are imo worth accumulating with a longer term view. most of em will be obvious in hindsight.