A few weeks ago, we discussed the opportunity set in the shipping sector. This week at the Value Investing Congress, Vladimir (Vlad) Jelisavcic, a founder at legendary distressed debt firm Longacre, did a remarkable presentation on the situation at DryShips and Ocean Rig UDW. I've spoken to Vlad a number of times and have always come away impressed by the due diligence he brings to the table. Longacre has been in the news as of late, but nonetheless, I have no doubt that with work and ideas like this, we haven't seen the last of this strong group of talent. And here's to hoping Brecker keeps the end of year distressed parties going.