MODERN VALUE INVESTING: 25 Tools to Invest With a Margin of Safety in Today's Financial Environment

by Sven Carlin

The S&P 500 has a price to book value ratio of 3.1 which means that you can expect less than a third of what you are paying now for the stock if the net assets held were sold at book value. The 3.1 ratio doesn’t even exclude intangible assets.