Chicago Mercantile Exchange (CME-N)

He bought more when shares plunged after the vote. Market trading volume is up 18% YOY. Also, this is a dividend play and they buyback shares. The past 3 Decembers, they announced a special divided, which he thinks could be $6 this year.

Benefits from trading activity, and volumes have been down. Sell your losers, and let your winners run.

Time to move out of US banks? BAC-N lots of levers to earn money. It trades a little higher than book value. The valuation is okay, but is trading fair value. He would not be compelled to buy at time. He would roll this position into holding the exchanges -- like CME-N

It is a major derivative exchange with a data group with a high margin business. Trading volumes will go up with increased volatility and will add to their bottom line. The scale is large enough to allow for further global acquisitions. Yield 1.7%. (Analysts’ price target is $176.09)

It is more defensive. When you have to be an investor, you love these. When markets go sideways and wonky, this one goes up. They are firing on all cylinders. (Analysts’ target: $166.60).

It helps if there is lots of volatility in the market so they get more trading volumes. It has to reverse itself.