just throwing this one out…credit goes to Kerrisdale Capital. However their write-up was in Feb and the I feel like people have forgotten about this one.

URB.A….basically paying for public shares of CBOE and NYX…and getting the rest of the holdings for free. I am not a huge fan of buying exchanges these days(volume is getting eaten up via other avenues) or buying anything right now but it’s compelling at 1.25 with a NAV of 1.93.  Not to mention they still have about 2 million worth of shares they can buyback before the end of august.

Below is the NAV Calc provided by Urbana. Regardless of how they come up with the private holdings values the public shares are easily valued and are in and of themselves more than the current price of $1.25