I like the "McClunie" method. Finish your stock, follow best practise inside and out for an oil finish, but don't apply the oil. Get some Ever-dure epoxy (or similar, the yanks call this sort of stuff clear penetrating epoxy resin). Heat the stock up as hot as you dare, 50-70 C, and apply the epoxy untill it won't take any more, wear good gloves !
Then oil the stock as per normal, you'll need a lot less coats.
The result is a waterpoof, hard finish that will stand just about any sort of weather. However if you want to checker it you'd better have great tools (and they won't last long) and if you gark it heavily (I fell on one of mine on glassy ice) it will tear the wood fibres instead of dinting them and be hard to steam out.
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