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Investors Title Co. Message Board

  • pj and pmlljl,

    Any opinions on this stock? (Yahoo's stats are messed up: there are 492 million ADRs outstanding not 98 million. So the twelve trailing month P/E is around 2.5 not 0.5.)

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    • astral:

      I will allow pj to comment on YZC because he is more conversant in Mandarin than I am. I will admit that if the dividend of 24% is continued, that YZC would be a better investment than 3 month t-bills.

      I sold 1/4 of my CEG Friday near $25. If it goes back to $23 or less I will buy more again. I have to say that I am a little spoiled by the volatility that used to be.

      • 1 Reply to pmlljl
      • Yeah, I sold out of my CEG Round 4 around $24.25. But I think I got good stuff for the money, so I'm trying not to feel bad about missing $25.

        Unfortunately YZC's dividend yield is one of the things that Yahoo gets wrong by a factor of 5. Really it's just under 5%. But the company does have something like $3 cash per share and they averaged $0.78 EPS 2003 thru 2007. (I threw out 2008 EPS, it's forecast at like $2.50, but I feel like the whole energy industry really got lucky this year. Still it's nice to bet for once on a company whose most recent year was unusually good rather than unusually bad.)

    • astral:

      Your plan sounds like you know that people can not keep secrets and that they will blab this "secret" all over the net and that it will attain viral status. I am all for it. Start spreading the secret.

    • astral:

      I got my proxy on CEG yesterday and spent some time reading it last night. I was mostly interested in the process of the merger negotiations. It sounded like chaos with all of the meetings, deadlines, and the looming possibility of ratings downgrades and the threat of bankruptcy. I am still hanging on and wondering if it will go up enough to make me want to sell and try for round 5.

    • astral:

      You did pretty well today, but it wasn't 500 Dow points. So try to do 600 tomorrow to make up for today's shortfall. Spread that secret around.

    • astral:

      Well, we did pretty good Friday, with CEG going up about $1 from our recent purchase prices.

      I am going to appoint you, as a committee of one, the task of raising the Dow Jones average 500 points a day for the next three days so that we can sell CEG at $27. Please write your acceptance of this challenge on this message board.

    • I guess I expect it to fall apart on its own.

      If it does fall apart, some of the people who got in for the 52 may not really care that much whether they get 25 or 23 or 19 on their way out. I guess I'm probably wrong, but it's free.

    • OK! I am up to the challenge!

      What I'll do is go on all 20 message boards and say that a friend of mine knows this guy who is very knowledgeable about Wall Street and that he says this is a market bottom. But I'll warn folks not to tell anybody because it's a secret.

    • astral:

      I didn't think EDF would come on so strong or so quick from the story I read yesterday. Nevertheless, I entered an order to sell 20% of my position last night at $27. When I checked this morning, it had been executed at $29.90. I subsequently sold another 20% for about $28.30, so my average sale price is abut $29.10. Now I have to figure out if I should sell the rest. I am guessing that we will not see $22 again, but we can hope.

      Maybe should give up long-term value investing and just concentrate on merger arbitrage.

    • pmlljl,

      I bought a little bit at 23.08. If nothing goes wrong the annual rate of return is now well over 20% from there ...

      It makes me kind of wonder why I own anything else. I certainly don't average 25%+ annual returns with my picks even when the economy is fine.

    • Yeah, I just saw that. $35 sounds fair to me.

      This whole market thing seems inefficient though. They should just assign one guy to sell me shares at 23 and buy them back at 26. It would save him a bundle on commissions and spreads.

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