The word on Wall Street since 2002 when I first bought ITIC has been that they're dead money. So they more than doubled in that time, so what? The geniuses aren't playing. So there's no glory, only money (and lots of stern lectures about why it's a mistake).
As you suggest, parts of this industry could just go under as the boom cools. Most 'investors' seem to equate size with financial strength, so to some an NFI may appear no more risky than an ITIC. And, well, it's no good telling somebody, dude, you have rabies, but you're too rabid to recognize it. You have to just let them die off and be replaced by folks who don't have rabies.
In not-unrelated news, my GOOG puts from a year ago are up to 75 cents on the dollar. I think I have very good prospects of getting a 0% return on that fiasco, which is a great relief.
GOOG was down $.94 today according to Yahoo. Assuming this trend continues at todays rate on a straight-line trend, GOOG should approximate $0 per share in about one year. I hope you have long-term puts. I hope this good news makes your day. If you were pj, you might or might not use this information to buy/sell/hold GOOG puts.
If I were you, I would anticipate big profits. I would spend some of them by flying to Vegas and treating pj to a catered seven course meal under the bridge. That would be a six pack of Bud and a taco with Johnny Cash on the stereo singing "I walk the Line.
A WSJ blew by yesterday and I saw an article about Warren Buffett lending USG shares to short sellers a few years ago when the stock price was in the single digits. Now it's in the 80's. Moral: don't borrow from Warren shares to sell short.
I'm not Warren, if I exist at all, but if I did exist and did have shares of ITIC, which fact I am neither admitting nor denying, leaving open the possibility that I am short ITIC or have no position in it, would anyone be interested in borrowing some shares to sell short?
Sorry, I've never heard from anyone on Wall St about ITIC in particular of course. The title insurance sector was assumed to be dead money. It mostly doubled, but again if it didn't happen on center court the fans don't care too much.
I hope you at least get above the zero line on your goog puts.
I would be honored to award your a gold star for going against the crowd as well. Also, you deserve an atta-boy for hanging in there and letting your loss come back to an almost break even. I may even get a break even in HORT as well.