Investors Title Co. Message Board

altarboy500:

Perhaps the Fines are like me and waiting to buy ITIC even cheaper. The trouble in housing, finance and title insurance is, in my estimation, quite large and it is not going to go away anytime soon. There will be a good time to buy ITIC but it is not now.

pmlljl:

They are still available:
http://search.ebay.com/search/search.dll?from=R40&_trksid=m37&satitle=enron+certificates&category0=

I would recommend shredding them after you buy them. "Mint condition" and "no folds" certificates are poor insulators.

The bear and I won't need the quilt until we return to LV to winter there. (Alaska is warm enough in the summer that we don't need the quilt.) I just hope that nobody has stolen the quilt in our absence, but the falling ITIC share price gives me some comfort that nobody will bother. The possibility that someone will steal the quilt lining and try to glue it back together to be passed off as "mint condition" Enron certificates is a worry, though.

pj:

I am stunned to find out that I can still buy Enron stock certificates. The price shown was $86 plus $5.50 for shipping. But I believe that is just a bid in an auction. My apartment has heat and I have other blankets. Do recommend that I buy some Enron and hold it for the "yield" since it dowsn't trade on the NYSE any more, just on EBAY?

http://cgi.ebay.com/OFFICIAL-ENRON-STOCK-CERTIFICATE-CODE-OF-ETHICS-MEMO_W0QQitemZ230161949384QQihZ013QQcategoryZ255QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

pmlljl,
My eyes are so full of tears at seeing the bid way beyond my means ($6.20) that I can hardly type this. It is a shame that the certificate will hang on some wealthy collector's wood-paneled wall when there are cold people in the world without shredded-Enron-certificate-stuffed quilts.

nnfinley09:

I know what you are saying. The current bid is now $78.00. And the Fed says there is no inflation! How can there be no inflation if worthless stock certificates go for $78?

I know Enron and Worldcom have all the cachet of being involved in truly great scandals but I guess that I will have to settle for the nuveau class of bankrupt companies relating to sub-prime mortgages. Maybe I can get some worthless stock certificates from American Home Mortgage for reasonable prices. I no that is down market but its the best I can do.

going out in today's mail:

"Mr. James A. Fine, Jr.
President, Principal Financial Officer, and Principal Accounting Officer
Investors Title Company
121 North Columbia Street
Chapel Hill, North Carolina 27514

Dear Mr. Fine:

My wife, children, and I own a little over 3 shares of Investors Title in Schwab accounts. Since the share price is very near book value per share, I encourage you to have the company buy back its shares aggressively. As I am typing this, I have a partial fill on a buy limit ($38.10) order.

Yours truly,
pjv2xyw9dww4b5"

Can I add the 41 cents to my basis?

Hmm..maybe I have a little bit more on the table than you. The non-Fine family member with the most shares according to Yahoo Finance is Markel Gayner Asset management. Maybe, I should try and get in touch with him, though he might have better things to do than talk to me about ITIC.

If Mr. Fine mails a response, I may post about it.

For how low a price should I wait in my attempt to acquire yet another square... I mean share?

pj:

Did you see the article in Monday's WSJ about the title compamies?

Good post.

I believe the company is probably over reserved, but it is definitely over capitalized. I think we should put together a letter to management and send it to them in both paper and electronic form. We could use a scanners and e-mail to add multiple signatures. They should be buying back lots of stock.