Ann: Investor Roadshow Presentation, page-175

Here is an article on the Third Avenue junk fund blow up from REUTERS (12 Dec 2015) although it doesn't contain much detail on Third Avenue itself. Unsellable assets and impossible to value assets (no easy liquid market) are the key to the problem here. Many here have argued that people will just buy the failed shale oil companies for less. This is probably what has been happening but I think many will be unsellable. Couldn't make money at $70-80 a barrel so nobody will touch them at $40 per barrel. Eshmun

http://www.reuters.com/article/us-f...sis-idUSKBN0TU0DK20151212#RoL78vXy07vpoVoP.97