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Investors Title Co. Message Board

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  • astral_tsar astral_tsar Jan 27, 2005 4:04 PM Flag

    Heading Down!

    Enh. Not really. I mean, sure, it would have been nice to get out at $42 and back in at $38. But I'm not a trader, and the spread in this stock makes trading an expensive proposition.

    My planned selling price is $65. Ten times earnings plus cash and securities in excess of liabilities. I think that's a realistic price and I'm willing to wait for it. Of course I wish it would zoom up there in one long rally, but that rarely happens ... at least to the stocks that I buy.

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    • I hope you never get the chance to sell--not because the stock's price doesn't rise, but because the fundamentals keep up with the price, leaving you to conclude that it's not a sell, not a sell, not a sell,... as it goes higher and higher over the years.

      • 1 Reply to pjv2xyw9dww4b5
      • That would be best of all. The older I get, the less willing I feel about pay taxes just to roll over a perfectly good position.

        Since I've been bashing on ITIC's price a bit, lemme counter with some pumping along those lines. Since at least 1980, ITIC's EPS have grown around 14% per year. If that 14% growth continues for five more years but then levels off forever, then earnings will grow from the recent $4/share (or so) to nearly $8/share. During the same five years, cash and securities beyond liabilities will grow, say from the current $25 or so to $50+. Then the value of the stock in early 2010, assuming no further growth, will be at least $8 x 10 + $50 = $130/share. It's not necessarily gonna happen that way, but I think it's more likely than not. Anyway it's probably my best chance at getting that 250% to 300% return over a 5-year period. If I need cash I can borrow it. Even the taxman doesn't consider borrowing to be income :-)

        Yet :-O

        (Those are 2010 values, not present values, of course. If we discount that back to the present at 7% per year, we get $93 present value.)

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