And what im trying to say about trailing commission and other...

And what im trying to say about trailing commission and other financial assets not traded on the market is that you rely on a fv calculation and when this occurs you have an issue. In this case you are starting to plugin estimated about the future, laspe rate, discount rate, premium growth rate of all future cash flows.

Preciously what Bruce Greenwald doesnt like. Naturally you would have to discount this by a bit anyway even without the recent issues.

But all this could just be me as well as the market overconcerning and just like you guys suggested, everything has been overplayed and its just business as usual. In the end Hope it works out for you guys. Good luck