Three price-to-book value buys

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by J. Royden Ward, editor Cabot Benjamin Graham Value Letter

Quality companies with low price to book value ratios (P/BV) have outperformed companies with higher valuations for the past three-, five- and 10-year periods.

To find the best companies with low P/BV ratios, we required Value Line Financial Strength ratings of B++ or better, low price to earnings ratios, dividend yields of 1.0% or higher and good earnings prospects for the next 12-month and five- year periods.