By shrinking the supply of shares in the market, the buy-back splurge played its own part in prolonging the bull market.

通过减少流通中股票供给，回购的挥霍行为也使自己成为了延长牛市的一部分。

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But equally important are efforts of Safeway to reward shareholders, in part by spending big money to buy back its own shares.

FORBES: After Five Tough Years, Smart Turnaround Is On Its Way At Safeway

Buffett set a specific price-to-book-value target for the buybacks, saying Berkshire ( NYSE: BRK-B) would buy back its own shares but only at prices up to a 10% premium over the then-current book value of Berkshire shares.

FORBES: The Importance of Book Value

As a result of the tests, it also tells each bank whether it's allowed to raise its dividend, the quarterly payout it gives to stockholders, or buy back more of its own shares.

WSJ: Fed: JPMorgan, Goldman need better capital plans