????2011年9月，當(dāng)伯克希爾宣布將以公司股票票面價(jià)值110%的價(jià)格回購(gòu)股票時(shí)就產(chǎn)生了這樣的效果。當(dāng)時(shí)公司股票迅速上漲。第二年，伯克希爾僅成功回購(gòu)了6,700萬(wàn)美元股票。

????與周三公布的12億美元相比，6,700萬(wàn)美元顯然遜色不少。

????本文作者、《財(cái)富》雜志（FORTUNE）資深自由撰稿人卡羅爾?盧米斯是沃倫?巴菲特多年的好友，一直是伯克希爾-哈撒韋公司股東。

????譯者：劉進(jìn)龍/汪皓

????That was indeed the effect of Berkshire's announcement in September 2011 that it would buy stock up to 110% of the company's book value. The company's share price immediately jumped.? In the next year Berkshire succeeded in buying only $67 million of stock.

????That amount is obviously dwarfed by the $1.2 billion purchase announced Wednesday.

????The writer of this article, Fortune senior editor-at-large Carol Loomis, is a longtime friend of Warren Buffett's and also a longtime Berkshire Hathaway shareholder