David Kostin, the chief US equity strategist at Goldman Sachs, is giving advice to investors who are concerned Congress might clamp down on share buybacks, which have been a key part of the decadelong stock rally. Companies have been huge buyers of their own stock during the bull market. But after spending on buybacks topped $800 billion last year, some Democrats and Republicans have proposed restrictions on the practice. Kostin has some specific recommendations for investors looking to fill...

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