Investing 501
Long only, value, special situations, deep value

WPX Energy Trades Below Tangible Book Value, Smart Investors Are Buying

A few weeks ago, we looked at the merits of Rosetta Stone (NYSE:RST), the investment idea presented by David Nierenberg of D3 funds at the Value Investor Congress in Las Vegas. In this article, we are going to examine, WPX Energy (NYSE:WPX). The idea was presented by Guy Gottfried of Rational Investment Group. The presentation can be found here. Readers will have to scroll down the page to find it. What intrigued us about WPX initially was that at the time it was presented it was trading for 66% of TANGIBLE BOOK value. While that might be expected if the company was a bank or insurance company or had a huge debt maturity looming, it is...

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