Subject: Re: Dec 31 BV?
If BVPS was up 16% in 2024 to $452K/A-share, then the current P/B as of 1/14/25 is 1.45. If BVPS was up 20% in 2024 to $467K/A-share, then the current P/B as of 1/14/25 is 1.50.

You have these switched. The *higher* BVPS should result in the *lower* P/B.