"Of the rats and mice, PRG and LYL I am happy to continue buying...

"Of the rats and mice, PRG and LYL I am happy to continue buying (I commenced buying PRG last week), but the last two are notoriously illiquid."

Hi Adam
would you not say that KOV is your classic cigar butt too?, all things considered it does not have the most durable business model, but most directors have a fair amount of skin in the game.

With reference to Nassim Taleb's newest book anti-fragile, where he talks of entities, businesses whose resilience is enhanced by volatility or dis-order and of your list above what would be your pick of these businesses that exhibit this quality, barring CSL