ACGL scores a perfect 8 for 8, but four checks never ranArch Capital Group Ltd.BATS:ACGLWarrenLeaksThe usual mistake with a stock like ACGL: you see a clean score, every box ticked, and you stop reading. I've done it. A perfect number feels like the end of the work when it's really just the start. So, note to self. My twelve-point checklist on Arch Capital comes back 8 in favor, 0 against. Sounds great. But 4 of the 12 had no data. That means it's eight checks, not twelve. Still a good result, just a thinner one than it looks. What the eight are built on, from the filings. Share count 341.2M as of late July 2026, down from 373.2M a year earlier. About 8.6% gone in twelve months, nearly 14% over five years. Real buybacks, not cosmetic. Piotroski: 5 of 6 passed. The miss was return on assets improving. Worth watching. Insiders, last 12 months of Form 4s: one buyer for about $499K, six sellers for roughly $29 million. Lopsided. Could be routine comp selling, could be nothing. Doesn't sit fully comfortable with me. My rough math: 2.5x book, which a 19.9% return on equity supports, blended with earnings, lands near $175 a share. Price was $94.36 on October 5. A 46% gap. Big gaps usually mean I'm missing something. If a friend asked: the eight things I could check look strong, but I'd want to know what the other four say before trusting the score. Just me thinking out loud over a 10-K, not advice.