No, we did not short the stock. Instead, we chanced upon a small, strange little company using our Conservative Net Asset Valuation method. And it went on to reward us with a 100% gain, even though its business was failing:

It’s revenue was falling steadily

But it’s price chart was a stark contrast. It’s stock price was climbing despite of the losses!?

On the surface, this seems illogical. But our investment criteria told us otherwise. It takes guts (and balls) to stick to your decisions at times. But if you have a sound strategy to picking undervalued stocks, these decisions are often easier. We bare it all in this case study, and you’ll discover:

• How to analyse the value of a company’s assets using items from its annual report (and Google Maps)…and why we decided to invest in this strange business
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