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Start with the A's · Jan 29, 2026

I Backtested 3 Net-Net Strategies Over 16 Years - Here's What Actually Works

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Ney Torres H · Start with the A's

Comparing pure NCAV, strict quality filters, and a hybrid approach using backtests from 2009-2025

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Net-net investing is one of the oldest value strategies, pioneered by Benjamin Graham in the 1930s. The concept is simple: buy stocks trading below their liquidation value (Net Current Asset Value). But does it still work today?

I ran 3 different net-net strategies through QuantConnect’s backtesting platform from 2009-2025. Here’s what I found.The Result…

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Read the original on valuefund.substack.com

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