You have to remember, which is hard to do, given this lackluster, wallet-buster stock, that BV is so depressed because of no earnings for so long. I believe we will be trading close to BV for some time as the BV goes up and the stock follows it. Book value will not remain at $7plus change for long and therefore we will continue to have room to run.
Buyout, reinstatement of divi. policy, buyback. Whatever the case, it it time to payup if want to piece. Nobody has been selling shares in the last two weeks in anticipation of the fourth straight quarter of $$$$$ and what was going to happen after that according to prior conference. When 9/11 hit, 50% of reinsurrance was used up. Now we are finally starting to see prices come back in line as more reinsurrance comes on line. I like the idea of the report and call on 9/11.
IMO, there's only a small chance that any given company will be bought out in the very short term, regardless how attractive they may be (unless they are seeking offers). Prospective buyers would be those companies specializing (or have a large position) in Florida P&C Insurance...not a huge universe. Still, it certainly wouldnt surprise me if a buyout offer occured, but I'm not counting on it.
As for moving closer to book value..I thnk there's a good chance of that. Tangible book is what, $7.60+....lots of room to move.