now it chanced that the young swine - herd once sat in the wood blowing his flute , while his three pigs were digging under the pine - roots . and an old , old man came along , with a beard so long and so broad that it hung far below his girdle . the old man had a large , powerful dog with him . when the youth saw the great dog , he thought to himself : " if a fellow had a dog like that to keep him company here in the wilderness , he might consider himself lucky . " and when the old man noticed this , he began : " that is why i have come , for i want to exchange my dog for one of your pigs . " the youth was at once willing , and closed the bargain . he received the great dog , and gave up the gray pig in place of it . then the old man went his way . but as he left he said : " you have reason to be satisfied with our exchange , for that dog is not like other dogs . his name is ' take hold ! ' and whatever you tell him to take hold of he will seize , even though it were the grimmest of trolls . " thereupon they parted , and the youth thought that fortune had indeed favored him . the following day the youth went to the wood again , with his dog and the two pigs . after a time he sat down and played his flute as usual , and the dog danced to his playing with such skill , that it was nothing short of a miracle . and as he was sitting there , the old man with the gray beard came out of the wood again , and with him another dog , no smaller than the first . when the youth saw the handsome beast he thought to himself : " if a fellow had that dog to keep him company here where it is so lonely , he need have no fear . " when the old man noticed this , he began : " that is why i have come , for i want to exchange my dog for one of your pigs . " the youth did not lose any time , but agreed to close the bargain . he received the great dog , and gave up one of his pigs in place of it . then the old man went his way . yet before he left he added : " you have reason to be well satisfied with your purchase , for this dog is not like the other dogs . his name is ' tear ! ' and if you give him something to tear , he will tear it to pieces , even though it were the grimmest of trolls . " then they parted . on the third day the youth went into the wood again with his pig and two dogs . he felt very happy , seated himself on a tree - stump and played his flute as usual . and the dogs danced to his playing with such skill that it was a pleasure to watch them . as the youth was sitting there in peace and quiet , the old gray - beard once more came out of the wood . this time he had a third dog with him , who was as large as both the others together . when the youth saw the handsome animal he could not help but think : " if a fellow had this dog to keep him company in the wilderness , he would have no cause for complaint . " the old man at once began : " that is why i have come , in order to sell my dog , for i can see you would like to have him . " the youth was at once willing and agreed to close the bargain . so he received the great dog and gave up his last pig in place of it . then the old man went his way . 
three times .
how many times did the boy make an exchange with the old gray-beard ?
how many times did the boy make an exchange with the old gray-beard ?