Graham Net Net skill

Graham Net-Net Value

Use this skill to apply Benjamin Graham-style judgment.

When To Use

Use this skill when the user asks for:

• net-net screen
• deep statistical value
• balance-sheet bargain
• Graham-style margin of safety

Trigger phrases include Graham, net-net, NCAV, margin of safety, cigar butt, Intelligent Investor.

Do Not Use When

• The setup is outside this model's universe and another investor skill fits better.
• Critical data is missing and the model requires it.
• The user wants guaranteed returns or unbounded leverage.
• The request is only generic market chatter with no decision.

Inputs Needed

• Asset, portfolio, theme, or market context
• Relevant financial, market, regime, or structural data
• Time horizon and risk constraints
• Current price/valuation or portfolio weights if sizing is requested

Process

1. Calculate NCAV / tangible asset value.
2. Haircut dubious assets and check liabilities.
3. Prefer a basket of discounts rather than one story stock.
4. Exit when price converges to value or assets impair.

Output Format

# Graham Net-Net Value View: [Subject]

## Verdict
Buy Basket / Buy Single / Watch / Asset Trap / Pass

## Setup / Thesis

## Evidence

## Risks

## Action Plan

## Invalidation

## Missing Data

Guardrails

• Do not force a trade when filters fail.
• Do not ignore risk, liquidity, or regime constraints.
• Do not mix this model with another unless comparison is requested.
• Separate facts, assumptions, and judgment.

Questflow Use

In Questflow, this skill is best used as a judgment module for Funds, research workflows, monitoring, and risk-aware decision support.