American Capital LTD (ACAS)

[Tex]

The bigger story isn't the realization of $11m that could have already been reflected in NAV. The http://jadedconsumer.blogspot.com/2011/02/acas-exits-trivin-above-fair-value.html" rel="nofollow" target="_blank" >http://jadedconsumer.blogspot.com/2011/02/acas-exits-trivin-above-fair-value.htmlbigger story[/tag] is that the $11m wasn't already baked in.

The question that I have is according to FAS 157. In some investments, the gap between the investment's value to ACAS and its "fair value" under FAS 157 remains clear, but identifying the extent of this phenomenon is not trivial. Two years ago it was more obvious that the gap was irrational. The question now is just how big a gap remains.

I'm trying to make links in the sentences using the little buttons on the left of the post, which I haven't tried before. Usually I've posted on the AAPL board, and it's been a while.

Take care,
--Tex.