My thoughts exactly Nathan,
At 22c the MC is only about $190m.
The worst case tangible asset minus debt equation works out about $1 billion. Given the large profit from management fees the value of the management operations must add at least another $1 billion of intangible assets.
This puts value about $2 per share without allowing for growth once the financial sector sorts itself out this should do well.
Very oversold ATM IMO.
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