Tim Travis
Long only, deep value, registered investment advisor, portfolio strategy

Investors Title Company Will Continue To Build Its Intrinsic Value With A Strong Housing Market

For long-term value investors, the selling process often is one of the most difficult aspects of the investing process. The family-run Investors Title Company (NASDAQ:ITIC) hit my radar in 2011, when the stock traded in the high $20's-low $30's and I began establishing a position. At that point in time, the company traded at a very sizeable discount to a reasonably liquid tangible book value, and this didn't even factor in the two company-owned office buildings and the land below it in Chapel Hill, North Carolina, which seem to be valued on the books below current market prices. Before long, the stock rallied to the mid-$40's and I sold because I had a plethora of other undervalued opportunities,...

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