Craven House Capital presents an almost unbelievable special situation. Selling at only 64% of its net assets, it is issuing new shares for almost 5 times the current share price, benefiting shareholders.
Renaissance Investment Trust is selling at a 28% discount to book value, and expects to wind down by 2015. It will start returning cash to shareholders by early 2014. This is investment offers a great margin of safety and some upside potential.