CAI Valuation - comparison to peers, page-116

@Contrarian4me
And if ALK were to liquidate these investments and stop feeding hedges into the banking sector along with borrowing more into rising interest rates - perhaps it would show it's shareholders that they are more excited about their own prospects than those of other companies? Do they think that the risk of that capital is better held (gambled) within the script of others than on their own balance sheet? Looks we view things from different perspectives regarding what is important to the average retail holder - fancy that...