The Importance of Volume in Investing

The 13F is not a real, realistic picture of the entire portfolio. The kind of things we did for similar diligence, it mostly wouldn't matter. I could talk all day about frost when it moved the stock and when it mattered if it did. But there are some things where if it seemed real simple that way, the stuff that I would do that seems like what you see on like Clark Street value or something, that can really move.