How do you figure its 'fairly priced' ? Also, what makes you think it will not go to 1.5 times fairly priced in short order as the Fed floods even more money?
Unless of course you are a trader and bought 6 months ago at
Sentiment: Strong Buy
1.37 price to book value. From a strictly trading perspective, this has considerable upside room....unless the price to book that it has been lingering at for the recent decade was a 'new normal'. Anyway, it is too much fun for me to watch it run.
(We are breaking Benjamin Graham/Buff 'rules' here, but Buff has shown that rules are made to be deviated from. At the Annual meeting, Buff did observe - as a show of Ted And Todd's independence,- that they have both made purchases that he would not have done.)
Good luck Todd. Also, good luck trying to keep your hands off that trading money while things are in flux. I suppose I would try to promise myself that I would not touch it till the Fed started advancing interest rates in the absence of its current debt purchases.