I'm Bruce, a deep value investor. Buying what most investors don't like across global public markets.
Joined April 2026
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We’re up nearly 30% since publication.
This month’s results “ahead of expectations”.
Hopefully a long runway ahead.
tangiblebruce.substack.com/p…
A net-net I wrote up recently has a business segment growing within that could transform the company.
This got me thinking: what's the most interesting business you've found hiding inside a mediocre one?
Final plug on this week's article
Buy the assets at a net-net discount. Get the possibility of a revived software business thrown in.
Price to Tangible Bruce retweeted
A software business below net current assets, that's been taken out the outback (pun intended) and left for dead by the market. My latest piece from earlier this week:
A return to profitability, significant cash in the bank (that exceeds the market cap) and another uplift on their property values.
I have re-assessed the upside and my confidence has grown.
substack.com/@tangiblebruce/…
A software business below net current assets, that's been taken out the outback (pun intended) and left for dead by the market. My latest piece from earlier this week:
Price to Tangible Bruce retweeted
UK 10-year yield briefly hit 5.4%. US aren't far behind.
I'd argue 5%+ is a psychological threshold for investors over 40: a decent return starts to look better than equity volatility for many.
Price to Tangible Bruce retweeted
A debt-free net-net trading for less than its cash and receivables - with a potentially massive upside.
A debt-free net-net trading for less than its cash and receivables - with a potentially massive upside.
I generally agree with this first sentence
If you pay 30x for something growing 3%, you have overpaid.
Many nuances of course, but go pay 40x for Walmart at your own risk..
UK 10-year yield briefly hit 5.4%. US aren't far behind.
I'd argue 5%+ is a psychological threshold for investors over 40: a decent return starts to look better than equity volatility for many.
Price to Tangible Bruce retweeted
Resharing this before my new article comes out tomorrow.
My money is where my mouth is with this one.
Sure, it's not perfect; but a net-net with cash 155% of market cap doesn't have to be..