<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>ABBVIE INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00287Y109</cusip>
			<value>3553</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>60700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AGNICO EAGLE MINES LTD CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>008474108</cusip>
			<value>2545</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91080</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>91080</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALPHA PRO TECH LTD CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>020772109</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>3600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERCO CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023586100</cusip>
			<value>330</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN CAPITAL AGENCY CORP. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02503X105</cusip>
			<value>213</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ARES COMMERCIAL REAL ESTATE CO CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>04013V108</cusip>
			<value>768</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69472</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>69472</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ARROW ELECTRONICS INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>042735100</cusip>
			<value>454</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7426</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>7426</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANK OF AMERICA CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>060505104</cusip>
			<value>2309</value>
			<shrsOrPrnAmt>
				<sshPrnamt>150000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>150000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WTS/BANK OF AMERICA CORP   13.3000 EXP01/16/2019</nameOfIssuer>
			<titleOfClass>WTS</titleOfClass>
			<cusip>060505146</cusip>
			<value>587</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<putCall>Call</putCall>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>100000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BERKSHIRE HATHAWAY INC CL-A (DEL) CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>084670108</cusip>
			<value>8048</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>37</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACKSTONE MORTGAGE TRUST INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09257W100</cusip>
			<value>6976</value>
			<shrsOrPrnAmt>
				<sshPrnamt>245882</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>245882</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOULDER GROWTH &amp; INCOME FD INC MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101507101</cusip>
			<value>608</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70906</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>70906</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CU BANCORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126534106</cusip>
			<value>168</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7397</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>7397</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CVS HEALTH CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126650100</cusip>
			<value>1032</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAPSTEAD MORTGAGE CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14067E506</cusip>
			<value>118</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CASH AMER INTL INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14754D100</cusip>
			<value>233</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTRAL SECURITIES CORP. MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>155123102</cusip>
			<value>129</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIVEO CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>178787107</cusip>
			<value>3</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONTINENTAL MATERIALS CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>211615307</cusip>
			<value>86</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4771</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4771</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOVER DOWNS GAMING &amp; ENTMT INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260095104</cusip>
			<value>19</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16157</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>16157</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ECLIPSE RESOURCES CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>27890G100</cusip>
			<value>6</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ELLINGTON RESIDENTIAL MORT REIT CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>288578107</cusip>
			<value>1412</value>
			<shrsOrPrnAmt>
				<sshPrnamt>86225</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>86225</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENOVA INTERNATIONAL, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29357K103</cusip>
			<value>180</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9150</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>9150</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>E Z CORP INC CL-A NON VTG CMN CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302301106</cusip>
			<value>1404</value>
			<shrsOrPrnAmt>
				<sshPrnamt>153796</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>153796</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FEDERATED NATL HLDG CO CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31422T101</cusip>
			<value>1527</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>49900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST CMNTY CORP S C CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>319835104</cusip>
			<value>225</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19301</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>19301</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FORTRESS INVESTMENT GROUP LLC CMN CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34958B106</cusip>
			<value>2219</value>
			<shrsOrPrnAmt>
				<sshPrnamt>274982</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>274982</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENVEC INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37246C307</cusip>
			<value>35</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>11800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GIBRALTAR INDUSTRIES INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>374689107</cusip>
			<value>627</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38233</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>38233</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOLUB CAPITAL BDC LLC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38173M102</cusip>
			<value>1325</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75527</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>75527</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GROUP 1 AUTOMOTIVE, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>398905109</cusip>
			<value>863</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GUARANTY FEDERAL BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40108P101</cusip>
			<value>72</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARVARD BIOSCIENCE INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>416906105</cusip>
			<value>36</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>6200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HERCULES TECHNOLOGY GROWTH CAPITAL, INC.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>427096508</cusip>
			<value>13</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HISTOGENICS CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>43358V109</cusip>
			<value>10</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUDSON GLOBAL, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>443787106</cusip>
			<value>13</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4845</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4845</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IMPERIAL HOLDINGS, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>452834104</cusip>
			<value>84</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>12100</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>INSPERITY INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45778Q107</cusip>
			<value>52</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ISHARES MSCI JAPAN ETF ge.</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464286848</cusip>
			<value>2506</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>200000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JPMORGAN CHASE &amp; CO CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46625H100</cusip>
			<value>2423</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>40000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KEMET CORPORATION CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>488360207</cusip>
			<value>1</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LEUCADIA NATIONAL CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>527288104</cusip>
			<value>455</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>20400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LORAL SPACE &amp;COMMUNICATION INC*. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>543881106</cusip>
			<value>684</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LUBYS INC CMN STOCK CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>549282101</cusip>
			<value>5</value>
			<shrsOrPrnAmt>
				<sshPrnamt>900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MAIN STREET CAPITAL CORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56035L104</cusip>
			<value>692</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>22400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MODUSLINK GLOBAL SOLUTIONS, IN*C CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>60786L206</cusip>
			<value>39</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATURES SUNSHINE PRODS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>639027101</cusip>
			<value>315</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24035</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>24035</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEW MOUNTAIN FINANCE CORP MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>647551100</cusip>
			<value>15</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PACIFIC PREMIER BANCORP CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69478X105</cusip>
			<value>1318</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81391</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>81391</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEAK RESORTS, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70469L100</cusip>
			<value>616</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>100000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PENNANTPARK INVESTMENT CORP MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>708062104</cusip>
			<value>13</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1405</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1405</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PENNANTPARK FLOATING RATE CAP LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70806A106</cusip>
			<value>88</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6245</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>6245</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEPSICO INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713448108</cusip>
			<value>96</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QC HOLDINGS, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74729T101</cusip>
			<value>6</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2749</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2749</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RADIANT LOGISTICS INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75025X100</cusip>
			<value>44</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8410</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8410</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SPDR S&amp;P 500 ETF TRUST</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>78462F103</cusip>
			<value>314490</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1523471</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1523471</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TCP CAP CORP MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87238Q103</cusip>
			<value>16</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>THL CREDIT INC MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872438106</cusip>
			<value>270</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21964</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>21964</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRI POINTE HOMES INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87265H109</cusip>
			<value>154</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TOLL BROTHERS, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>889478103</cusip>
			<value>953</value>
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				<sshPrnamt>24231</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>24231</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRIANGLE CAPITAL CORPORATION MUTUAL FUND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>895848109</cusip>
			<value>23</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>U.S. GLOBAL INVESTORS INC A CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902952100</cusip>
			<value>3</value>
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				<sshPrnamt>1000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1000</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VANGUARD SPECIALIZED PORTFOLIO VANGUARD DIVIDEND APPRECIATION MUTUAL FUND CL ETF  SER VIPERS</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>921908844</cusip>
			<value>30639</value>
			<shrsOrPrnAmt>
				<sshPrnamt>380756</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>380756</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VANGUARD FTSE DEVELOPED MKTS CMN ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>921943858</cusip>
			<value>15932</value>
			<shrsOrPrnAmt>
				<sshPrnamt>400000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>400000</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VANGUARD INDEX FUNDS (VANGUARD HIGH DIVIDEND YIELD ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>921946406</cusip>
			<value>1359</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>19900</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>VANGUARD FTSE ALL-WORLD EX-US INDEX FUND ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>922042775</cusip>
			<value>26</value>
			<shrsOrPrnAmt>
				<sshPrnamt>542</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>542</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>VANGUARD S&amp;P 500 ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>922908363</cusip>
			<value>286793</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1515818</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1515818</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>VOLT INFO SCIENCES, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>928703107</cusip>
			<value>13</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1102</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1102</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>YAMANA GOLD INC CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98462Y100</cusip>
			<value>561</value>
			<shrsOrPrnAmt>
				<sshPrnamt>156352</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>156352</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ESSENT GROUP LTD. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G3198U102</cusip>
			<value>48</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2000</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GREENLIGHT CAPITAL RE LTD-A CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G4095J109</cusip>
			<value>626</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19696</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>19696</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>NORD ANGLIA EDUCATION, INC. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G6583A102</cusip>
			<value>227</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>SODASTREAM INTERNATIONAL LTD. CMN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>M9068E105</cusip>
			<value>1013</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>50000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
