The response to my requests during our Friday interview for info on book value along with stories about personal financial changes you may have made has been overwhelming. I appreciate each an every response we've received.

The link below is to some excellent data regarding book value for equities. Thanks to Chis at chris@yourcontrarian.com for sending it. Many others sent the same or very similar information.

http://4.bp.blogspot.com/_bp99G2G7BOI/SbpsODv7jhI/AAAAAAAAAxM/Snn-LUVFwYo/s1600-h/Capture.JPG

The data would seem to suggest that the market made a significant bottom in March at 1/2 of the long term average of price to book value, a level last visited in 1984. However, being that it's a 31.5 year average, you would think the data would be skewed upwardly by the longest bull market on record.  Nevertheless, it's a significant number in my opinion.

The question for me now is this....what happens to book value and the way the market trades around it in a deleveraging economy? Perhaps the example we need to look at is Japan from 1980 to present.

I don't have that data tonight, so I need your help. Whoever gets it to me first will be announced by me to the world as a pure genius! So go get it! (If you don't want your named mentioned publicly, just let me know ahead of time)

I'll leave you with a cartoon sent to me by the soon to be birthday boy (Thursday), David Brazee. Happy birthday David.