Outer Banks Best Quotes

By the old Moulmein Pagoda, lookin' lazy at the sea, There's a Burma girl a-settin', and I know she thinks o' me; For the wind is in the palm-trees, and the temple-bells they say: "Come you back, you British soldier; come you back to Mandalay!" Come you back to Mandalay, Where the old Flotilla lay: Can't you 'ear their paddles chunkin' from Rangoon to Mandalay ? On the road to Mandalay, Where the flyin'-fishes play, An' the dawn comes up like thunder outer China 'crost the Bay! 'Er petticoat was yaller an' 'er little cap was green, An' 'er name was Supi-yaw-lat - jes' the same as Theebaw's Queen, An' I seed her first a-smokin' of a whackin' white cheroot, An' a-wastin' Christian kisses on an 'eathen idol's foot: Bloomin' idol made o' mud Wot they called the Great Gawd Budd Plucky lot she cared for idols when I kissed 'er where she stud! On the road to Mandalay... When the mist was on the rice-fields an' the sun was droppin' slow, She'd git 'er little banjo an' she'd sing "Kulla-lo-lo! With 'er arm upon my shoulder an' 'er cheek agin my cheek We useter watch the steamers an' the hathis pilin' teak. Elephints a-pilin' teak In the sludgy, squdgy creek, Where the silence 'ung that 'eavy you was 'arf afraid to speak! On the road to Mandalay... But that's all shove be'ind me - long ago an' fur away An' there ain't no 'busses runnin' from the Bank to Mandalay; An' I'm learnin' 'ere in London what the ten-year soldier tells: "If you've 'eard the East a-callin', you won't never 'eed naught else." No! you won't 'eed nothin' else But them spicy garlic smells, An' the sunshine an' the palm-trees an' the tinkly temple-bells; On the road to Mandalay... I am sick o' wastin' leather on these gritty pavin'-stones, An' the blasted English drizzle wakes the fever in my bones; Tho' I walks with fifty 'ousemaids outer Chelsea to the Strand, An' they talks a lot o' lovin', but wot do they understand? Beefy face an' grubby 'and - Law! wot do they understand? I've a neater, sweeter maiden in a cleaner, greener land! On the road to Mandalay... Ship me somewheres east of Suez, where the best is like the worst, Where there aren't no Ten Commandments an' a man can raise a thirst; For the temple-bells are callin', an' it's there that I would be By the old Moulmein Pagoda, looking lazy at the sea; On the road to Mandalay, Where the old Flotilla lay, With our sick beneath the awnings when we went to Mandalay! O the road to Mandalay, Where the flyin'-fishes play, An' the dawn comes up like thunder outer China 'crost the Bay !

The balance sheet told a different story. Selling for $13.38 per share at the end of 1954—an $18.8 million market capitalization—P&R traded close to its net current asset value of $9.16 per share, a figure that included significant excess inventory. While this alone was not enough to make the stock cheap, P&R also had an off-balance-sheet asset known as culm banks, a waste material accumulated from anthracite mining which was thought to have value as a fuel source. Buffett believed this asset could be worth around $8 per share.150 The net current asset value and the culm banks combined were worth $17 a share, enough to give Buffett confidence that the stock was cheap. But, as Table 2 shows, the company also had substantial property, plant, and equipment. These fixed assets were almost certainly worth less than their carrying value, as the industry had deteriorated since the company last valued them when it emerged from bankruptcy in 1945. While it wasn’t clear what they were worth, they were certainly worth something. Finally, and ultimately most importantly, Ben Graham was on P&R’s board of directors, becoming a member after purchasing the stock in 1952. Buffett, who had discovered the stock on his own, would join Graham’s firm in 1954. While Graham had not taken any significant action as a board member by then, Buffett sensed that his professor, mentor, and now boss would eventually make something happen. As he later stated, “I was just a peon sitting in the outer office… I was not in the inner circle, but I was terribly interested, knowing something was going on.