How far down is it going? Are we near the bottom now?
Hypothetically, what if earnings stay at $0.50 per quarter for a long while?? In downturns, things get tough. Everybody files claims, people sue each other, it's tough. If eps falls to $2 a year, the typical P/E for this stock has been 9 or 10, ... is $18 to $20 a possible price target? Too pessimistic?
In the teens, I think I would add shares and then hope for a real estate recovery.
Yes, it was in the library.
It seems that some real estate investors want to play heads-I-win-tails-the-title-company-bails-me-out:
" And even in the absence of a
foreclosure, people facing finan-
cial difficulty may have an incen-
tive to look for problems with
"Everybody looks for the
deep pocket to get them out of a
bad deal," says Jim Maher, of
the American Land Title Associ-
ation, a trade group. Many of
those claims are legitimate, he
says, but might not have been
pursued if home values were
It reminds me of an article I saw in the WSJ
some time ago about people trying to get out
of agreements to purchase not-yet-built homes/condos at prices that turned out to be near the top.
You are a true optimist! I should be so lucky to only lose 100% of my investment. This is the epiphany I have been looking for. Tomorrow I shall invest all of my liquid assets in call options that expire this month.
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.
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.
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.
Can I add the 41 cents to my basis?