This site is dedicated to undervalued asset situations, but I haven’t yet spent much time on undervalued asset situations other than liquidations and Graham net current asset value stocks. Two areas worthy of further study are low price-to-book value stocks and low price-to-tangible book value stocks. I’ve found that it is difficult to impossible to [...]
Posts Tagged ‘Price-to-book Value’
Testing the performance of price-to-book value
Posted in About, Stocks, Value Investment, tagged Asset Value, Price-to-book Value, Value Investment on November 23, 2009 | 16 Comments »
Iconic Value vs Glamour research receives an update
Posted in About, Greenbackd, Stocks, Value Investment, tagged Asset Value, Price, Price-to-book Value, Value investing on October 23, 2009 | 11 Comments »
In a new paper Value vs Glamour: A Global Phenomenon (via SSRN) The Brandes Institute updates the landmark 1994 study by Josef Lakonishok, Andrei Shleifer, and Robert Vishny investigating the performance of value stocks relative to that of glamour securities in the United States over a 26-year period. Lakonishok, Shleifer, and Vishny found that value stocks [...]
Can relative price-to-asset values be used to determine which countries are likely to provide the best investment returns?
Posted in About, Stocks, Value Investment, tagged Asset Value, Price-to-book Value, Value Investment on October 5, 2009 | 3 Comments »
In an August post, Applying value principles at a country level, we discussed The growth illusion, an article appearing in a Buttonwood’s notebook column of The Economist. In that article, Buttonwood argued that valuation, rather than economic growth, determined investment returns at a country or market level. Buttonwood highlighted research undertaken by Elroy Dimson, Paul [...]

