As Topper's short hairs get singed. Book value increased over 16% this quarter alone with doubling of net income over first 2 quarters. MKL has been trading 1.3 to 1.4 times BV for awhile so we should be doomed to a trading range of 357 to 385. This is the quarter investors were looking for in August when they ran MKL up over $360 into earings. They were just a little ahead of themselves.