Santayana

Prem didn't say they'd keep the duration forever, and the reduction in duration kind of matches up with how much time has passed since they first extended. Unless you really think we're going to return to sub 2% yields on the 10 year, which I think is unlikely regardless of what the Fed does, there's really not much reason to be concerned about this. OTOH if long yields spike, we'll be very happy to not be so exposed.

in Bradstreet we trust!

More Fairfax, couldn't help myself after that $100 pullback.

Little surprising to see multiple votes for over $100! Maybe I'm underestimating the Eurobank impact.

GOSS

It might be a little ghetto, but where I live you can buy the On The Rocks bottled cocktails for $8.99/pint. It's owned by Beam/Suntory (SYBFY). Because they have the volume you get a high quality product at a decent price. I keep wanting to buy the stock, but don't see the catalyst for them actually making money.

Thank you!

I know TDS is a real thing, but TWS (Trump Worship Syndrome) needs to be called out more.

Right, I wasn't considering that they're not marked to market. I still think we're going to some very nice earnings for a host of other reasons which @Viking has so nicely mentioned above.

For my purposes, I'm comfortable knowing they hold "a lot". Should be a very nice earnings report next month.

FRFHF is the US listing ever since they delisted the FFH ticker from the NYSE.

With the size and terrain of Iran, a ground invasion would make Afghanistan look like a cakewalk.

Not sure how meaningful a 1 month chart is when it comes to currencies. Looking over the long term it just looks like mean reversion.a I've been hearing that debt will cause a collapse of the dollar for most of my adult life, maybe this time they really mean it?

I know it's not just luck, but how lucky are we to have Andy Barnard and Brian Bradstreet working for us?! Basically no one who isn't a deep follower of Fairfax has ever heard of these guys, and they are both among the best in the world at what they do.

Nothing that I'm actively looking for, although I kind of regret selling my signed 1st edition of Hitchhiker's Guide to the Galaxy so would be happy to replace that. Some other exciting books I currently have include a first edition of the AA big book, a signed copy of Dune, and a 1726 edition of Gulliver's Travels. The most expensive item I've ever sold was one of these. My copy was from the 2021 auction mentioned in the article. Guess I should have held on to it for a few more years! https://bleedingcool.com/comics/debut-of-tarzan-in-all-story-october-1912-goes-for-record-264000/

Added to the personal library

One of my cooler acquisitions last year.

One of the great things about the used bookstore model is that people bring inventory to you. I'm sorting through hundreds of books each week, selecting the ones that are the best fit. The problem with something like eBay is that you would mostly just be dealing with a single book each order which becomes a major time sink once you get to the volume we deal with, and whether I have to pay shipping, or it's baked into the sales price, it's pretty hard to find good enough deals that I would have any margins.

No, we're a pretty broad general interest store, so pretty much anything as long as it is a quality book in good condition. We have books ranging from $5 to $5,000, but our bread and butter is paperback editions of relatively current books and classics in like new condition. It's far easier to sell 100 $10 books than 1 book for $1000.

Now that sounds like a dream! I can only imagine the trouble I could get into if I decided to start serving liquor "on the side" here in the US.

No interest in running the bureaucratic gauntlet that a food service business involves.

I purchased an existing store that had been there for 25 years back in 2012, when I decided to leave IT behind. It's the kind of business where the economics only work out if you're able to do pretty much everything yourself. My wife and I run it by ourselves and do about $300k in annual sales and take out about $80k to pay the bills. As a lifelong book lover, it's a dream come true. As a financial investment, not so much, because of the labor it takes.

If you ever find yourself in Port Townsend, Washington, I own William James Bookseller there. Powell's in Portland is a mecca for used book fans.

Allied World was my vote, and I don't think they would have done it had the deflation hedges not been in place.

5500 total shares after hours, only the last 7 at a weird price. I'm guessing fat finger.