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Author: mungofitch Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 212808  
Subject: Re: Volume Date: 12/14/2012 4:42 AM
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Why is this different?

One might speculate that the goal isn't really to do all that many buybacks,
since they are unlikely ever to be able to do a meaningful number.
Rather, it does have the effect of herding the stock price a wee bit
closer to fair value. As Mr Buffett has long suggested, the most
appropriate stock price is the one that's closest to fair value, allowing
all shareholders a chance of getting returns that match the performance
of the underlying business during the period of their ownership.
Things were just plain getting out of hand in terms of undervaluation.

Jim
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