Global Brokerage Inc. (GLBR)

[uhlmant]

I always viewed the deal terms as "if FXCM needed to be sold" not they would be sold. I think luc wants to get paid... Any way possible. It is in the best interest of Luc and FXCM to maximize the sale value. I am invested assuming there is no sale and the loan gets repaid. This will impair FXCM for a year or two but afterwards pps should be 17$ plus. Consequently it should probably be trading at 4-8 based on future earnings