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Does anyone use net-nets / cigar butts in US stocks? If so what market caps?

C
Jun 28, 2026 · 03:42

I want to know if classic Graham net-net / cigar butt investing is still doable in US stocks in 2026, from people who've actually done it with real money rather than backtested it. My account is under 100k, so the usual net-net liquidity problem isn't a problem for me. I know it doesn't scale past a few hundred k. For a small account this looks like one of the few spots where being small is an edge instead of a handicap, I believe.

\- How did it go?

\- What market cap range were you in? Sub-50M? Nano-cap / OTC?

\- How many true US net-nets (trading under 2/3 NCAV) can you even find at any given time these days?

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