YTD numbers are impressive
3rd Qtr. numbers not as good as last year, however, YTD numbers are solid….
From the press release.....
Year to date, we reported net income of $48.3 million ($1.84 earnings per share), an increase of 132% from a net income of $20.8 million ($0.85 earnings per share) for the same period in 2020. Year to date return on average shareholders’ equity was 17.40% compared to 8.61% in the prior year. Year to date 2021 results were mainly impacted by fair value gains on our marketable securities compared to fair value losses at the onset of the pandemic and growth in our core business, partly offset by an expected decrease in equity income from MCAP. The Company typically sees swings in its earnings per share due to fluctuations in marketable and non-marketable securities investment income, realized gains and unrealized gains and losses.