Helen and I are planning a trip to visit our friends in Washington DC in the Spring. We’re planning visiting New York City on the way home. This is obviously the perfect opportunity to post links to some fabulous maps of the (not so) Big Apple in 1770 and 1865.
Last week I bought into Turbotec Products (LON:TRBO), a US manufacturer of twisted heat transfer pipes that is listed on AIM. It was my first foray into the markets for at least a year.
I like the look of the business, which has been profitable through the recession, and now shows signs of growth. I also liked the price. Using its interim balance sheet, the company has net assets of $11,362,000. Take off $313,000 intangibles and convert the net tangible asset value to sterling (at £0.643227:$1) and you get £7.1m. To get the most conservative value estimate, I divided that figure by the fully diluted number of shares (13,514,554). This gives a company worth at least 53p per share. I bought at 29p.