The Acquirers PodcastPublished 2026-09-09
“From Motley Fool Writer to $110M Hedge Fund (Then Back Again)”
$ICEBullish
ICE is a holding due to valuation under 20x FCF and the protective nature of its internal clearing operation.
We own CME, we own ICE, uh which is Intercontinental Exchange, and then I own as well the OTC markets, which is the the small exchange.
So, for example, um Intercontinental Exchange was trading at and I think it still is trading at less than 20 times free cash flow.
And so the other part of it is of course is that you know the CME and the and and IC they don't just benefit from people taking risk they benefit from people hedging risk.