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#	AUTHOR DATE SUBJECT
21	member 4/25/14 9:55AM RE: RE: RE: RE: RE: Short FNF 20
Both deals happened to be highly accretive so EPS is not comparable, but I hear you that it should be a better historical metric than revenue or EBITDA. I also have my concerns about housing and... login to read the rest view available tags
20	member 4/25/14 9:28AM RE: RE: RE: RE: Short FNF 19
Ragnar - Thanks, yeah, I'm aware of the acquisitions they've made, but these haven't made the business any less cyclical. EPS is actually the one metric that should remain fairly comparable following acquisitions, don't you think? To... login to read the rest view available tags
19	member 4/25/14 9:07AM RE: RE: RE: Short FNF 18
Historical EPS is not comparable. FNF bought LPS, which will be highly accretive. They also bought Land America. In general, I haven't found the sell-side great on this name. Despite a mkt cap of nearly... login to read the rest view available tags
18	member 4/25/14 8:43AM RE: RE: Short FNF 17
Ragnar - you may be right but personally I think you seem way too aggressive in your estimates. "Normalized earnings is somewhere between $3-3.50"? They haven't done EPS like that except in the epic 04-06... login to read the rest view available tags
17	member 4/25/14 8:23AM RE: Short FNF 16
I'm not surprised at all that FNF was up. FAF (a much better comp than Stewart) reported yesterday and had great results. It was up +5%. As a result, a few sell-side guys have taken their... login to read the rest view available tags
14	member 1/16/14 9:53AM RE: Great incentives for LPS synergies! 13
Ragnar0307, yes, we agree it’s certainly a positive as FNF has now had several months to quantify the specific cost opportunities. The language is below. This is well above the $100 mm originally presented at... login to read the rest view available tags
13	member 1/15/14 4:40PM Great incentives for LPS synergies!
Has anyone else read through this 8K? My quick read is very positive. It sounds like mgmt will get zero if they hit their target of $100MM and will get up to $95MM if they... login to read the rest view available tags
12	member 7/28/13 3:43PM FNF Hedge
Great write-up, solid thesis. I was wondering what you would recommend as a good hedge against an FNF long position. view available tags
11	member 7/05/13 12:49PM RE: RE: RE: RE: RE: RE: Short FNF? 10
Concensus now seems to be that Ben will now go ahead with the taper. I think shorting the mortgage focused companies is still viable, particularly as a market hedge. I was wondering if you ever went view available tags
9	member 6/04/13 7:11PM RE: RE: RE: RE: Short FNF? 8
For what it's worth, Matt Morris (STC CEO) spoke at the Stephens conference today and said they have not seen a downtick in refi order count recently. Apparently as real estate prices have risen it... login to read the rest view available tags
2	member 1/25/13 12:06PM om730, why do you prefer FNF to STC?
Cuyler makes a good case for STC, imo. Anyone else feel free to chime in. view available tags

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			2012	2013
Price:	3.65	EPS	$0.00	$0.00
Shares Out. (in M):	38	P/E	0.0x	0.0x
Market Cap (in $M):	138	P/FCF	0.0x	0.0x
Net Debt (in $M):	-24	EBIT	0	0
TEV (in $M):	114	TEV/EBIT	0.0x	0.0x

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