Hey - look at it from the bright side ... they basically return all their earnings as dividends back to the shareholders and they even fully impute them! ... FPH is now a dividend stock with an amazing yield of 1.5%!
Clearly, this makes it worthwhile to wait 60 years to get the principal back ...
But don't misunderstand me - it is an amazing company, but yes, sometimes one wonders which premiums the market is prepared to pay hoping for unprecedented future growth. Maybe the markets want to tell us something about the rise of Covid 24?