http://www.valuewalk.com/wp-content/uploads/2014/07/benjamin-grahams-net-nets-seventy-five-years-old-and-outperforming-full-tables1.pdf An academic paper which tries to explain why investors can enjoy better return with Ben Granham's Net Nets approach invented 75 years ago. I had some NCAV investing experiences during 2008~2009 recession. Those stocks really provide excellent profits and I still own some of them now. However, if one wish to have several candidates for investing now, he/she would be disappointed because it is hard to find stocks match NCAV rules in normal circumstances.