Seems to me there are several key components at work:1. Core earnings2. CAT activity3. Movement of credit spreadsI am reasonably confident on #1 going forward and thanks to Pete's insights, feel confident with the staff additions and changes they are making/have made.CAT activity is relatively easy for us to track. The market seems to have digested the recently disclosed losses and yawned.I am wondering if anyone out there knows which credit spreads are most impactful to their investments and how to track their movement?Thanks in advance
Book value per ordinary share of $24.60 at December 31, 2009, an increase of 3% in the quarter and 59% for the full year.