NEW YORK ( TheStreet) -- My favorite deep value investment technique, one that many would equate to "dumpster diving" or "bottom fishing", continues to deliver compelling results. That's the good news. The bad news is that finding candidates that meet the rather stringent criteria is about as rare as a blue moon these days.The search for companies trading below net current asset value (NCAV), or "net/nets" was first developed by Ben Graham, the father of value investing. In simplest terms, net/nets are companies whose market capitalizations are below the book value of their net current assets.
Perhaps the most recognizable name in the group was RadioShack (RSH) (+38%). The jury is still out on this one, for sure. Many believe that the company's best days are long behind it, and that it will not survive. The minority opinion, including my own, is that while a turnaround will be difficult, the company has more time to execute than the market believes. The remaining names, Trans World Entertainment (TWMC - Get Report) (38.5%) and Richardson Electronics (RELL) (+1%) represent the only names of the original seven that still trade below NCAV, as well as the only current net/nets with market caps greater than $100 million.