You'd have to give up 93 of your net worth.

And why don't you like them as much?

liabilities plus equity.

I use 100 gold pieces.

let me give you that piece of terminology, it just means net asset value.

Frobisher's net worth is upward of two and a half billion dollars.

These are my assets, and these are my liabilities.

So this is my liabilities.

So I use it essentially just to build a big vault, right?

So its assets.

I'll do that in yellow.

That assets, A for assets, is equal to

Malibu Equity and Investments.

These should be at equal size, and now the NAV per share is going to be 1,800 divided by 10, or 180.

And what I wrote here is, it has 4 billion of liabilities.

Obviously , a machine you can't do all of those things to it, but you can at least touch it and possibly smell and taste it.

I don't want to draw this box.

And rich, eh?

Remember liabilities plus equities are equal to assets.

Each share in this case once again, if you believe that the assets are worth 1 million are going to be 1 million.

It should start to make a little bit of intuitive sense

Malibu Equity and Investments. Roger Van Zant.

Or they just have a super flush bank account.

So 225,000

Rockefeller also sold a newspapers and became the richest man in the world.

you have to buy this back from me at the NAV (net asset value) per share.

So that's the situation we're dealing with.

I won't use the square tool.

We had a 10 return on assets.

And it's worth 100 gold.

That might be true to some degree.

The Raider's a military asset.

And if you look at the species level, you saw about fish.

He is a man of wealth.

He's a wealthy man.

Or across the street from each other.

So the total assets were 5 billion in assets.

Net profit for the last three months is a new record high!

In a world without leverage so if I didn't have all this

So this is just another visual representation that

It doesn't sound like we borrowed money or anything.

And then the equity is, essentially we would look at this formula.

This is pure glass.

But when I talk about the asset, I'm talking about only the operating assets.

little bit.