Don't forget darnoc that you are getting the dividends from the SPH shares which are yielding more than NRGY. Also, you can't put any store in the book value of ACAS because it is based on management's best guess for their private companies. If you held ACAS during the market crash you would find that ACAS's assets were overvalued and illiquid. I wouldn't touch that stock which went from 50 to .50 in a short period of time. NRGY has real assets which are worth far more than book value.