The Great Net/Net Index Experiment

If you’ve ever perused the Cheap Stocks website (http://stocksbelowncav.blogspot.com), it’s obvious that we are enamored with one of Ben Graham’s most fascinating (to us, anyway) investment techniques, that being the pursuit of companies trading below their net current asset value. Indeed, we’ve taken some liberties with Ben’s formula, a necessary evil in this day and age. (Ben’s formula sought companies trading at less than 2/3 NCAV, while we typically look for less than one times NCAV).