You kept the stock for a decade and called it patience. When did you last read whether the business still matches why you bought it?
Long-term holding without periodic thesis audits isn't virtue - it's neglect with a good story.
Comparing two reactions: cheering the EPS pop from buybacks versus asking who funded them.
Debt-backed repurchases lift earnings per share while leverage climbs, polished optics, less balance-sheet room when revenue or rates turn.