I agree. "write down fast and write up slow" seems to be the LACO motto.
Two fourth quarter write ups which may, or may not happen, are;
the 7m dividend in kind from Ohio received as an investment entry
increase in 2013, plus the reactivation of the Dania investment. The
Dania write down in 2012 was a 4m immediate write down, but their now
5% of some 65m purchase price should be written back up.