CSS - Today's Net-Nets: How I Buy Dollar Bills For Pennies
Intro to Net-Net Investing
Benjamin Graham, considered by many to be the father of value investing, popularized a systematic approach to buying companies at far less than their intrinsic value (i.e., with a wide margin of safety). This approach is largely insulated from institutional investors and remains a somewhat inefficient market today. These are often referred to as cigar-butt businesses, as they have been discarded by investors but may have a few good puffs left in them.
This technique is called net-net investing, due to buying a company for less than its net-net working capital