INTL FCStone (INTL): GCAP is the steal of the century, 60-70% upside

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6 thoughts on “INTL FCStone (INTL): GCAP is the steal of the century, 60-70% upside

  1. Given the developments Friday revealing BoD 5/3 split (formerly 7/1), would you size down GCAP heading into 6/5?

    • hi Tim – i try not to talk about sizing because it is such a personal decision for each investor and depends on risk tolerance/portfolio makeup/etc for each person. that said, GCAP is still a limited loss investment (in my mind) where the downside is still capped at 8% or so versus the (admittedly now smaller) chance of balloon upside in a renegotiation. Personally I am not reducing the position size post the Friday news, but it was only a medium position for me at the beginning.

      on the other hand, I do intend to build a large position in INTL if the deal closes at terms, and already have a decent starter position in the name.

      hope that helps.

  2. Jeremy, super cool idea — thanks for the write-up. Given that this stock is not well-covered, how did you come across it? Thanks!

    • thanks Gary glad you liked it. I came across it after doing the work on GCAP given the merger situation as discussed in the previous article; previous to this I had not head of the company.

      In general, this is how I find most ideas – they grow organically out of other ideas or themes I had been looking at, once my interest/curiosity has been piqued.

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