Book values have some good and some bad features.

Ben was really a contrarian but he didn't use those terms because he was really buying value.

Use book value as a starting point to try and establish the value of the enterprise.

Before selling, try to re-evaluate the company again and see where the stock sells in realtion to its book value.

Remember that a share of stock represents a part of a business and is not just a piece of paper.

Book values have some good and some bad features.

We do not spend a great deal of time talking to management.