Recently on Sky Business an analyst commented that RHC had their property recorded in their accounts at very conservative valuations (may have been historical cost basis). He then compared RHC to other companies that have their valuations at dodgy market values which may overstate their financial health. I saw this as a positive for RHC and was wondering if anyone has more knowledge of this. I had the impression the accounting standards require market valuations but never had a good understanding of them (fortunately).
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