Punit Kumar

The Long Case for Fidelity National Information

I read the FIS and FNF proxy statements. I like the companies, but I don't like the management. I believe the executive compensation is out of control at both the companies. The same CEO runs both companies, draws full-time salaries, options, perks/benefits etc. I don't believe board is acting in the best interest of the common shareholders. Related party transactions are a pain to untangle.

I like FAF, Fiserv (their competitors) better. Even though, these are good businesses in the long-run. They are down due to real estate markets. Finding honest management is hard.