Question-and-Answer Session
Operator
Thank you. (Operator instructions) Our first question comes from Beth Malone with Wunderlich Securities. Please proceed with your question.
Beth Malone - Wunderlich Securities
Thank you. Good morning. Couple of questions, first, what are you thinking differently about splitting the stock now that Mr. Buffet is considering doing that?
Steve Markel
The answer would be no. We'll leave it where it is and hopefully see it grow.
Tom Gayner
I might add if it gets to hundred and some thousand dollars a share, we'll revisit the issue.
Beth Malone - Wunderlich Securities
Okay. Right, the other question on acquisition opportunities, does it really -- how much does this pricing environment affect your thought process in making acquisitions. If pricing is just low, obviously there might be more opportunities to acquire but do you really want to acquire when pricing is like this?
Steve Markel
Yes, I think that's a good point because it is the low-pricing environment put stress on other companies, especially those that try to take the price. So it usually results in an increased number of opportunities. It's a whole lot easier in buying a company to buy one that have been distressed, and where it's very clear that you need to increase prices and fix the underwriting problem, and you know it's been our style in the past that we'll see more opportunities, and the good news is that as those companies get recycled, you know, the market will change.
A great example of that is when we bought Terra Nova in March of 2000 it was, you know, less than a year or after that that the market started to change very, very dramatically and the wind, rather than being our face, was at our back, and oftentimes that will happen. And so I think we don't know when the market with turn, but it certainly will be better to buying a company when prices are going down and getting worse, and the forecast and the futures are most dismal because surely that will change.
We don't know when, but surely that will change. And so I'd rather catch it on the upswing than buy it at its peak and watch it go down. So I think it's the best time to be – and sell to more realistic about the prices at times as well. So it's just a combination of factors just makes it very, very nice, and in fact, you know, we are starting to see an increase flow of, you know, potential opportunities.
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