How Value Investors Use the Net-Net Strategy in 2026

In Episode 51 of The Value Investing Podcast with Fexingo, Lucas and Luna dive into the classic net-net working capital strategy and ask whether it still works in 2026. With small-cap value stocks surging—the Russell 2000 is up over 3% in the last five days alone—they explore how rigorous balance-sheet analysis can uncover hidden bargains. Lucas walks through a hypothetical net-net calculation using a real-world small industrial company, while Luna questions whether the strategy's heyday has passed in an era of intangible assets. They reference current data: the IWD (iShares Russell 1000 Value ETF) at $242.13, up 2% in five days, and the Russell 2000 hitting 2,944. The conversation also touches on the recent spin-off trend and how net-net principles apply to corporate divestitures. A must-listen for deep-value disciples and anyone curious about Benjamin Graham's original teachings in today's market. #NetNetStrategy #ValueInvesting #BenjaminGraham #DeepValue #SmallCapValue #Russell2000 #IWD #SpinOffs #WorkingCapital #BalanceSheet #IntangibleAssets #StockPicking #Finance #Investing #FexingoBusiness #BusinessPodcast #LongTermInvesting #Contrarian Keep every episode free: buymeacoffee.com/fexingo