P/B ratio problems

http://www.fool.sg/2014/08/11/1-important-problem-with-this-popular-investing-technique/

Book value isn’t real value
assets don’t carry much transferrable value.

Value traps
nderlying businesses are either stagnating or are worsening.

A business that can’t be liquidated
small shareholder, you can hardly influence management’s decision on that matter.