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Investors Title Co. Message Board

  • pmlljl pmlljl Mar 15, 2006 4:27 PM Flag

    Finally a trade

    ITIC actually traded today. Yahoo indicates the last trade was on March 6.

    I think we all ought to chip in and buy pj some tonic to wake him up and get him active after his winter hibernation.

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    • Oh, and yes I believe that ITIC is more than 25% undervalued at $42.50. Title insurance is unpopular for reasons that I think are not permanent. In a normal sector, any company that could pay out $25-$30 in cash and earned $5, would rarely be priced below $75 and might often bring $100 or more. My simple-minded strategy is to keep earnings $5 a share and wait for the market to relax about title insurance. It will probably take years.

    • YMMV, but I don't believe that ITIC trades at a premium to FNF. Sure, ITIC's raw P/E is slightly higher, but ITIC has much higher liquid assets net of debt and reserves (almost $30 per share; FNF has none) and ITIC has consistently reserved for losses at roughly twice FNF's rate.

      BOYD ... unfortunately I sold below the 15 cent cash buyback floor announced by the company. I figured it was worth a lot more than a nickel, but I have a fear of holding bankrupt equities at anything approaching reasonable prices.

    • astral:

      I'm long BRK (as well as FNF). I take it you're implying ITIC is more than 25% undervalued by your BRK comment.

      ITIC seems to trade at a premium to FNF. Is it strictly a takeover premium?

      Did you keep the BOYD? They file their re-org 4/27 I believe. Now that one is more than 25% undervalued IMO.

    • tsar, to see something more informative than ???'s--at least, this worked in Windows XP Home--it may be necessary to go into the control panel, find Regional and Language Options, select the languages tab, and then check Install files for East Asian languages, followed by Apply.

    • It was just a sample of how the boys under the bridge communicate. Sometimes we forget to use 영어 when we're not under the bridge.

    • pj:

      Please try Espanol or Francaise. Your Asian languages are all Greek to me.

    • I'm just seeing ???s, not characters. :-(

    • 예.

    • astral:

      Sorry to hear that you sold your BRKB. I do not ever intend to sell mine. I will probably own more or less at different times, but never sell it all. It is the one "core" stock that I will always own. Buffet and the culture that he has developed at BRK is unique. So is his view of executive compensation. I wish you good luck in your other stocks, but to me, all other stocks have a lot of warts compared to BRK. I am not counting on Barrons recommendation to drive BRKB to $4,000, but I think it will get there someday.

      I agree with you about BRK's message board. A lot of lunatics post there. I rarely read it.
      It is virtually impossible to know who has any sense on that board and communicate with them. I much prefer to post with the sane(?) people on this board.

    • pj:

      I thought your posts were enigmatic before. Now you are posting in Chinese, Korean or Japanese. It will be very hard to distill the essence of your messages. I guess I will have to subscribe to an online dictionary. I do know an old guy from North Korea who speaks Korean, Chinese and Japanese. Maybe I can get him to translate after you master the language. Do you plan to abandon English entirely?

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