MarketWatch Premium: Stock buybacks rose to a record this year — or did they? The true story is different than you might think

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When it comes to forecasting the stock market, you should focus on net, rather than gross, buybacks.

Upon doing that, however, the stock market’s future doesn’t look as bright.

By net buybacks I’m referring to how many shares have been repurchased after deducting the number of new shares that have been issued. The net is the proper number…