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This reminds me of the optionality that Taleb always talks about. If you buy a lottery ticket (or go to a party where you don't know anyone), the downside is small and certain but the upside is huge and unlikely. If you skydive (or go in one of these), the upside is that you finish the day and you're still alive and not paralyzed, and your out a lot of money. The downside is small, but why put yourself in that position other than for bragging rights?

Suddenly I realize, not being a billionaire with billionaire problems is ok!

I agree with this thesis. I'd add that BIAL seems to be experiencing torrid growth with a growing contribution of non aero income which is not regulated like aero income. On track for 40 million passengers this year. India itself is also coming into itself with Modis pro development stance and friendly relationship with American companies. Daily price of FIH is being set by low petty traders judging from the low volumes. Large swaths of stock are being held and bought up by long term investors. We should see gradual repricing of the company closer to book value over time.

I have a midsize position in FF India. FFH is still my 4th largest position but I sold the shares in my retirement account and redeployed them to FF India. I still like them both, but FFH is a compounder trading at book value and FF India is a compounder trading below book, so I like the odds here. I need to program to myself to look for more compounders like this and not get sucked into commodity shitcos that are cheap and I have to watch like a hawk for signs of trouble. Problem is that once you've made money a few times at those, it's hard to pass up when you see it again. A Canadian insurer managing a company that invests in India, and is traded in Toronto (and thinly with another ticker in the US), but reports earnings in USD, and has an unusual compensation structure and conglomerate discount, with assets that don't seem to have a lot in common (Airport, chemicals, food, banking) seems like a textbook mispricing scenario. And it's a way to participate in that economy without overpaying for the nifty fifty.

He also mentions how they use a game controller so "anyone can drive" it.

That controller has to be the most janky way to control a submarine I’ve ever seen. Hope they’re found soon…

I wish! No, 54 in July and look like a grown up Charlie Brown. Good grief! But my niece and nephew keep me young. Nothing like trying to keep up with a 5 year old and 8 year old! And I also follow Buffett's adage and eat like them. That being said, there's only so much chicken fingers I can eat unlike them! Cheers!