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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (51605)	5/22/2013 9:51:25 AM
From: Paul Senior	3 Recommendations Respond to of 78702

Title insurers. It's been said even in the last housing cycle (mid 2000's) that title insurance was overpriced, and that the few title insurers had it made because they could charge a lot, but that claims were very few. Maybe change might yet happen. I don't know. I briefly read the author's bullish view of FAF and FNF. For being a duopoly or something, and for having a business that home refinance people must utilize, the stocks don't seem to me show the companies are great businesses. Book value (an insurer metric) hasn't grown much over the past years, and return on equity isn't so great. I don't see that if FAF/FNF have pricing power or strength as a duopoly, that that is reflected in the numbers. The companies/stocks look mediocre or maybe okay, fairly-priced. I can't see why a fund would make them top holdings. Yes, a nice article and interesting read. I'm not a fan though of Tilson or his fund. I don't trust the results he(they) claim, and my feeling is that Tilson is better at being an entrepreneur, a self-promoting one, than he is a stock picker. Jmo.