Are Your Most Profitable Activities Not on the Balance Sheet?

At Dylan Reed, we bought and sold ourselves three times, made a fortune buying and selling ourselves. But if you look at how we value the company, it really wasn't that much. It was basically one to three times book. All the money was made inside deals. The most profitable activities when you're in a bank like that are not on the banks balance sheet. Yeah. This reminds me of if you go and you look at...the equity of the Federal Reserve is sitting at $35 billion. That's ridiculous.