With share repurchase, the number of shares goes down, and if they don't do share repurchase the number of shares doesn't go down.

如果是股票回购,总股数降低,如果他们不进行股票回购,总股数不减少

耶鲁公开课 - 金融市场课程节选

you wouldn't go to a pure investment bank either and say I want to buy a hundred shares of Ford Motor Company, ? where is your stockbroker?

你不能去一个真正的投行然后说,我想买几百股福特汽车的股票，你的证券公司在哪里？

耶鲁公开课 - 金融市场课程节选

For example, if Ford Motor Company wants to issue corporate bonds or they want to issue new shares they would go to an investment bank and the investment bank would say, okay we can underwrite for you, but we'll do it for you.

例如，如果福特汽车,想要发行公司股票或者募集新股,他们会去投行,然后投行的人会说，好的我们能帮你承销。

耶鲁公开课 - 金融市场课程节选

In other words, if you had an account at a brokerage and you thought you had a hundred shares of IBM and now the broker is going bankrupt -the broker won't answer your email anymore and he's just gone you go to SIPC and say, I had these hundred shares.

换句话说,如果你在一家经纪公司,设有账户,其中有IBM的100股股份,现在经纪行破产了,经纪行不再回复你的邮件,消失了,你告诉证券投资者保护公司,我有100股IBM的股票

耶鲁公开课 - 金融市场课程节选