The most recent quarter ended is usually their best. What will book value increase to after earnings? $4.30 to $4.40 is my guess. So, that means that as of now LBIX is trading below book value with a PE less than 10. The increase in book value every year is like a built-in dividend. If LBIX keeps earning .30/year you can buy now at a book value yield of .30/4.20 = 7-8%.