Current Price on 19th Apr 2013 = $0.85
Nevertheless, I suspect that the price-to-book ratio can be better. There is an incident whereby CIT tried to sell one of their assets at 3 times their book value (which did not work out). I kept the analysis in my excel sheet and continued to track the data assuming that it has happened. The indicators seems better with price-to-book ratio dropping to near 1.0 level and Secured NAV at about 80%. These are some forward-looking scenarios which I don't normally rely on.
Well, if I continue to stick on to my investment philosophy, there is really nothing I can buy and I am still trying to tweak my thinking and analysis. But a lot of opportunities has passed by which I regretted. Need to learn to look forward.