Dec. 19 at 1:51 PM
$FDX The market still treats TITN like a broken ag-cycle story.
The filings tell a different one.
This is not an EPS stock.
It’s a working-capital + floorplan economics stock.
Inventory is turning into cash.
Interest drag is rolling off.
Tangible book ≈
$21/share.
Deep value is not calling the cycle.
It’s owning survivability while the market prices an accident.
Between the lines: dealers don’t die from low demand — they die from trapped inventory. TITN isn’t showing that.
HERE:https://cundilldeepvalue.substack.com/p/titn-deep-value-report-titan-machinery
$TEX $HRI
