I've never criticized -- in fact, I've recommended companies buy their stock when it's selling below what I call "intrinsic business value." In our particular case, not true for most companies, practically all companies, but book value happens to be an understated measure of value, but one that, in a way, is a pretty good tracking device. And I use this figure of 110 percent of book as being the limit because I know that that price is demonstrably less than the businesses are worth.

If I can buy dollar bills for 90 cents, I'll buy them. I want to warn the people that are selling to me that I believe I am buying their dollar bills for 90 cents because they're our partner. So, I give them notice first. And then if they want to sell me dollar bills cheap -- any of you want to do it, I'm here.