She's lowballing the w/downs. Remember, as the boys will tell you, they are 'write downs' not 'offs'. We can write them up later."
That's like saying, 'see this stock at 100? I had it at 20." And he doesn't mention he sold it into a margin call at 2. They aint' gonna be around to write up. As as far as 'off' goes, the first name is 'Jack".