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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Graham Osborn who wrote (55621)	7/4/2015 7:58:58 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78633

Graham, folks here over the years have had mixed results with net net's as far as I can tell. It should also be noted that Graham made more money on a moat stock (Geico in his case) then all his net nets together and he seemed to be smart enough to make an outsized bet on it too. Investing in net net's is mostly a variant of Vigar but investing (since the business often rightfully are valued at zero or assigned even negative value ) with net nets. I think it's just easier to invest in a good business bought at a fair or even better at a good price (if one is lucky). I also have started to put an emphasis on owner operators. FWIW, my largest position is LAACZ (a real estate partnership, > 10% position). Because I like hard assets, I also own QUCT and MNPP along the same line (smaller positions though).