Debt tends to be a balance sheet item that scares away many investors who are members of investment clubs. But it is not always so simple.

This is an interesting article by Trefis about the debt recently taken on by Apple to buy back shares. Not only does it help them get access to cash without paying taxes to re-repatriate it from overseas, it actually saves them money in another way. They can deduct interest payments on the debt (making the amount they pay to bondholders effectively less expense for them) and, since they are buying back shares, they have less shares to pay dividends on.

Apples Swan Dive Into Debt Unlocks Value for Shareholders

It's actually a pretty smart move.