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Price to Tangible Bruce

I'm Bruce, a deep value investor. Buying what most investors don't like across global public markets.

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Issues15Founded2 months agoLast Issue6 days ago
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Latest Issues

A 0.7x TBV Recovery Play with H1 Revenue up 45%

The Pitch

LPA Group is a small UK engineering company supplying connectors, lighting, power systems and control electronics into rail, aviation, defence and industrial applications. It carries the perception of a chronically delayed, t...

6 days ago
2

A 20% Grower on 4x Earnings

The Pitch

Multitude is a classic deep‑value financial at first glance: a small‑cap lender on a low single‑digit multiple, at roughly tangible book value. That snapshot misses how quickly earnings growth and business quality are changin...

9 days ago
6

A Neglected Net-Asset Play With Real Earnings Power

A quick note before we start: as I was finalising this write-up, the excellent Noel Wieder published his take on Braime earlier this week. If you have already read that, I doubt you will find a great deal extra in my article. Our underlyi...

13 days ago
7

Boring Infrastructure; Exciting Capital Returns

The Pitch

Sekisui Jushi (4212) is a dull road‑safety and infrastructure supplier sitting on a fortress balance sheet that earns reasonable growing returns, yet trades below its tangible assets. With activist NAVF also pressing for cont...

15 days ago
11
2

UK Housebuilders: A Basket of Net-Nets

The Pitch

Eight UK housebuilders (Watkins Jones, Springfield, Taylor Wimpey, Vistry, Bellway, Barratt Redrow, MJ Gleeson, and Crest Nicholson) now trade between 0.2x-0.7x tangible book value, levels not seen outside major crises.

The...

20 days ago
33
18

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  • Price to Tangible Bruce

    I'm Bruce, a deep value investor. Buying what most investors don't like across global public markets.

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