FNF grew its title business by doing 2 things. It vertically grew by acquiring companies better at title insurance than it was, such as Chicago Title and Lawyers. Second it rode the real estate wave from 1995 through 2008. There is really no reason to think that its management is competent to compete in the restaurant business.
I agree with you, but obviously from the activity on this board there just isn't much of a following. It has all the qualities but isn't big enough to be in the Buffett category. I wonder about the interest in expanding in the food business. Low margins and lots of competition are in the business. But, as long as the dividend remains it will continue to be a holding.