It has been more than a week since we last heard from pj. I am wondering if he and the polar bear are hibernating in a den atop Mt. Charleston or if they are on a tropic isle somewhere. I will wait another week before I report them as missing persons to the LVPD.
The investment committee was a little disappointed that no one would see the beauty of taking a tax loss in ITIC and sell to me at $36 before year end. The committee thought that the possibility of buying at $36 is now reduced and that it would be wise to cancel that order and wait to see what ITIC and the other title companies reported for the fourth quarter. The committee thinks that it is unlikely that title company earnings will recover anytime soon and that there will certainly be declines in the volume of business and probably profit margins. The committee thinks that ITIC is the best of the title companies and very much admires ITIC's balance sheet. Nevertheless, the committee thinks that the financial world has experienced a sea change and that the fincial companies will have a much more difficult time with profitability and growth in the future.
The committee did approve buy orders for both FLXS and WSC which were executed.