"전설로 떠나는 월가의 영웅" 원서로 공부하기 47편, "자사주 매입" 영어로 어떻게 말하지?

* 전설적인 펀드 매니저 피터 린치의 "전설로 떠나는 월가의 영웅" 원서를 통해 투자공부와 영어공부, 두 마리 토끼를 모두 잡기 위한 컨텐츠입니다.

* 원서 제목은 "One up on wall street" 입니다.

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오늘은 8장입니다. 8장 The Perfect Stock, What a Deal!

# (13) THE COMPANY IS BUYING BACK SHARES
Buying back shares is the simplest and best way a company can reward its
investors. If a company has faith in its own future, then why shouldn’t it invest
in itself, just as the shareholders do? The announcement of massive share
buybacks by company after company broke on October 20, 1987 the fall of
many stocks, and stabilized the market at the height of its panic. Long term,
these buybacks can’t help but reward investors.

☞ back shares : A buyback, also known as a share repurchase, is when a company buys its own outstanding shares to reduce the number of shares available on the open market.
Companies buy back shares for a number of reasons, such as to increase the value of remaining shares available by reducing the supply or to prevent other shareholders from taking a controlling stake.

☞ back shares는 쉽게 말하면 "자사주 매입"입니다. stock buyback, share buyback, buying back shares 정도의 표현이 있습니다.

☞  can’t help but : to have no choice except to do something

You cannot help but like her.

As I look back over my career, I cannot but smile.

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# When stock is bought in by the company, it is taken out of circulation,
therefore shrinking the number of outstanding shares. This can have a magical
effect on earnings per share, which in turn has a magical effect on the stock price.
If a company buys back half its shares and its overall earnings stay the same, the
earnings per share have just doubled. Few companies could get that kind of
result by cutting costs or selling more widgets.

☞ widget : a typical object made in large numbers in a factory

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# Exxon has been buying in shares because it’s cheaper than drilling for oil. It
might cost Exxon $6 a barrel to find new oil, but if each of its shares represents
$3 a barrel in oil assets, then retiring shares has the same effect as discovering $3
oil on the floor of the New York Stock Exchange.

☞ buy in :

to buy something for future use and not because you need it now:

We bought in lots of tinned food in case of heavy snow.

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# This sensible practice was almost unheard of until quite recently. Back in the
1960s, International Dairy Queen was one of the pioneers in share buybacks, but
there were few others who followed suit. At the delightful Crown, Cork, and Seal
they’ve bought back shares every year for the last twenty. They never pay a
dividend, and they never make unprofitable acquisitions, but by shrinking shares
they’ve gotten the maximum impact from the earnings. If this keeps up, someday
there will be a thousand shares of Crown, Cork, and Seal—worth $10 million
apiece.

☞ follow suit : to do the same thing:

When one airline reduces its ticket prices, the rest usually follow suit.

여기서 생각해보겠습니다. 왜 follow suit가 다른 사람하고 똑같은 행동을 한다, 라는 이디엄이 되었을까요? suit는 정장이 아닌가? 정장을 따른다, 정장을 따라간다, 가 왜 똑같은 행동을 한다는 의미가 되었을까요? 아래 그림을 보시면 아시게 됩니다.

☞ 자사주 매입, 이라는 표현이 또 나옵니다. 여기서는 이렇게 나왔습니다.
share buybacks

자사주 매입의 선구자 격이었다는 말입니다.
International Dairy Queen was one of the pioneers in share buybacks