Recent selling, page-24

Thanks for the compliment. :-D
"Copacetic" - that's a big word. I had to look it up. See, my intellect is not what you crack it up to be.

Why do I keep posting? Who knows?

My $1 guesstimate, is just that, a guesstimate. I cannot predict the future, so I cannot precisely know how the winds of fortune will impact the finances of FRM. In reality, I do not believe in boiling down valuation to one hard and fast number. I think it more rational to think in terms of a likely valuation range. As such, I won't he willing to buy except toward the bottom end of my range (or call it a margin of safety, if you like). So I won't be buying at $1 (on the basis of my imperfect understanding of current circumstances).