The Price to book thesis is good only in parts. By restricting himself through the book value to price ratio an investor will not be able to keep any of the present day blue chips in his portfolio. Only Bank stocks can be safely evaluated through the Price to adjusted book ratio (Book value - NPA's). For other stocks book value  provides only historical data as to what the company has done and does not say what it can or will do in future.

A company like AP Paper mills was available at below book value 5 years back and is also available at that level now so it has been difficult for investors to make money on that logic alone.In fact on real rate basis investors have lost moeny in such stocks.

I have tried to compare the Price to book value of 20 of the blue chips. Please note that the weightage is skewed in favour of MNC companies since investors who do not chase growth have a fancy for MNC stocks.

What a book value does is  protect downside. That too is not certain most of the time the values reflected are very different from the ground values. Only in cases of investments and real estate the book value thesis comes to any use.On the other hand a low Price to Book ratio does not guarantee you any upside in stock prices either. Over a period of time markets will pay for growth only. I doubt if anyone has been able to catch a multibagger going through the Price to book ratio alone.

These blue chips trade at far higher price to  book ratios. Please note that except the PSU Banks all other stocks are in a Price to book range of 2 to 26. So while Price to book is a good measure its reliance is good only in parts and it cannot be used to forecast the movement in stock prices as effectively as the PEG or the RoE.

Different people will have different entry points because their capacity to take on risks in terms of notional losses differ. So let us leave it for the investor to decide his entry points.

We do put forward the financials of all stocks that are discussed. I did that for TV 18, for Trent, for Inox and for all companies that I commented. See we cannot recommend target prices and buy prices that is for the investor to decide all we can say is whether the stock is closer to being becoming cheap or costly. If it is closer to becoming cheap who knows why it cannot become cheaper and vice versa.

This example will clear things for you. A lot of people I know bought TV 18 at Rs 160 along with me but had booked profits in the Rs 350 - Rs 400 region.  Two months back the price shot up to Rs 700 + most of them wanted to buy it back and then decided that it should be bought on declines. When it fell down to Rs 500 I thought that it was as steal and called up people to buy more if they wanted to. They bought and the stock tanked to Rs 320!

So how do you set entry points? Setting entry points is entirely up to the investor. I cannot advise any body as to what price he can buy. This is so because in an open forum like this I am not aware on anybody's risk taking capacity nor is that the idea of this forum. More over I do provide my recommendation at the end of each report I do and it is for the investor to take it from there.

We can only put down the financials and business models of the company stating the forward potential. If some one asks whether a PE of x times makes sense or not we can put it up for discussion but investing is an art not a science so fixing either buy or sell levels cannot be done. However technical chartists do have a set of entry points but that is outside the realm of my competence and interest.

And I  draw strong exception to your quote "become a forum for prophesies and lectures". We are here to discuss experiences and not share wisdom. if you have read my post on how to identify the next Infosys you will understand what I am referring to. Any argument that is backed by data is neither a prophecy nor a lecture arguments that are not are surely more then that.

Take a look at this now, Fidelity bought a huge stake in ENIL at Rs 260 and that made some sense to me. When the price fell to 220 it made more sense today it is at 180 and it makes even more sense but who knows it can come down to 120 and then people who bought at Rs 180 would think that they overpaid.

And finally, if you could help us with identifying those points then surely it would be great!