I think you need to listen a little closer to determine where that persuasiveness is coming from. ITIC's 10q for the quarter ended 9-30-07 indicated that ITIC bought back over 10,000 shares during the quarter. Mr. Fine is a determined guy.
Have you looked at FNM, FRE, CFC or NFI lately? The price action of these turkeys tells me that the carnage is not over yet and that it will continue for quite some time. I think MR. Fine will continue to protect you which I think is justifiable, but the creative destruction in the credit system will go on. I will continue to wait.
Your pal in support of honest companies correct accounting,
pmlljl, I decided to go to sec.gov to see how much Mr. Fine had the company paying for the shares bought during the third quarter. From 12/31/06 to 09/30/07, the company purchased 39,428 shares for $1,909,879 (http://sec.gov/Archives/edgar/data/720858/000115752307010752/a5535840.htm#stockeq). From 12/31/06 to 06/30/07, the company purchased 29,285 shares for $1,485,379 (http://sec.gov/Archives/edgar/data/720858/000115752307007930/a5463937.htm#stockeq). From 06/30/07 to 09/30/07, the company purchased 10,143 shares for $424,500. The average price was $41.85. On 09/30/07, stockholders' equity was $101,054,581, and there were 2,482,472 shares issued and outstanding. Book value per share was $40.71. I am not inclined to sell any ITIC despite owning "too much" of it. Perhaps we could get the bear to scare a few shares into your portfolio at a good price? pj