Ok, well, yeah, IMO shorting ITIC seems likely to lead to heavy losses. I'm long myself. But how do you know that heavy losses aren't exactly what yezdazz's portfolio needs? Maybe he will have a lot of short-term gains that he needs to cancel out.
I hardly pumped ITIC, I just pointed out, folks, here's a stock trading at liquid assets net of all liabilities, plus about 1x non-investment earnings. One person from here did figure it out on his own some time later, and if he bought he has done very well.
Congratulations on your FNF. It has done just about as well, and in my opinion handled the liquid assets even better by paying out that massive special divvy. Nothing like some actual cash to sort of authenticate the old liquid assets.