Eric Bolling is Richer Than You

Nymex Holdings (NMX-NYSE) lit up trading screens friday (11/17), the latest in a string of smoking IPO’s. The shares, priced at $59, closed trading at $134.75.

Although we are leery of chasing a stock trading at 70+ times earnings and twenty times revenue, we will save the debate over its investment merits for another day.

What we would like to point out is how much money the slick oil traders in the energy pits made on the deal.

According to our favorite Saturday morning read:

Nymex seat holders undoubtedly are celebrating because each class A seat holder received 90,000 Nymex shares, which were worth $12 million on Friday.  Nymex seats were selling for $5 million last month, $1.75 million in early 2005 and $750,000 in 2001.  Seat holders generally can sell a third of their stock in 180 days, another third in 360 days, and a final third in 540 days. Given the current Nymex valuation it wouldn’t be surprising to see sizable member sales once lockup restrictions end. (Barrons)

Last friday CNBC talking head, energy trader and man about town Eric Bolling casually mentioned on CNBC’s Fast Money that he owned 2 or 3 seats, which would be worth either $24 or $36 million at the current quote. Please forgive our lack of precision on the seat count, but whats $12 million between friends? 

In any case, it would appear Eric has money coming out the whazoo…
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Editors note:

Eric named Man of the Year

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