Do you guys check this board anymore? Did you read the recent Seeking Alpha article? I thought it was very favorable. They said that ITIC is worth much more than it is selling for. They also noted that J. Allen Fine was an accounting professor at UNC.
In addition, the other title insurance stocks are acting strongly. FNF and STC have made recent new 52 week highs and FAF is approaching its high for the year. I think ITIC is on the move higher.
Yes, I read the article. I thought it was sensible. I'm relieved to see somebody kind of independently confirm (roughly) the assets + business valuation that I give to this thing. The recent share buyback gives notice that the cash and securities are not just numbers, they can be & have been spent to improve the picture for investors.
I hadn't known that about Fine Sr. I think by now whatever stigma should attach to academia has worn off!
And I like the Texas expansion. Tough times are good for expansion, everything costs a bit less. And plus that's another way for some of that giant pile of money to be spent in a way that directly helps shareholders.
..."whatever stigma should attach to academia has worn off!"
Well, it has been so long since he has been a college professor that it is likely that he was not like the modern accountants. In my opinion, ITIC's financial statements are very clean and straight forward. I think their accounting would serve as a good model for other companies.
Regarding the Texas expansion, I like that Texas has a strong economy, partly due to demand for energy, and that its political outlook is much better than most of the rest of the country.