When you click on the title of the thread, it takes you to the very last post, instead of the first post.
Click on User CP on the green button bar. Then choose Edit Options. Towards the bottom of the page, you will find an option called Thread Display Mode. Here you can choose the display mode for threads. There is another option to select the Number of Posts to Show Per Page. This option sets the number of posts to show in a thread before splitting the display into multiple pages.