Yep, i was subtracting net intangibles as well which makes it come out
with an even lower book value. I can't see how MWA can justify such
high levels of goodwill and intangibles since what they supply is
basically a commodity, and there is very little barriers to entry in
their market.

admittedly they have a known brand but it is not Apple or Addidas, so
$1.1b is pretty ridiculous and the write downs they are doing on it
now should be multiplied by 3 as far as i'm concerned.

but this stock just keeps dropping and becomes cheaper and cheaper,  i
can't look away!!