AVX also has an additional $225 million, or $1.32 per share, in long-term marketable securities, and there's no debt. Given AVX's extremely high current ratio, which is just under 9, the company can easily afford to pay the current 7.5 cent quarterly dividend, which equates to a 2.75% yield.

Rounding out the list are defense name Curtiss-Wright ( CW), pawn shop company Cash America International ( CSH), workplace uniform company UniFirst ( UNH), and tobacco name Universal Corp. ( UVV). It's a rather eclectic mix of names, but I would not expect anything less.

Finally, I can't help but wonder what Graham would make of the hoopla surrounding the Facebook IPO, and subsequent debacle that's still unfolding. I'm sure he would be smiling, and shaking his head.

-- Written by Jonathan Heller, president of KEJ Financial Advisors and a contributor to TheStreet and Real Money. As of publication, he had no positions in the stocks mentioned.
At the time of publication, Heller had no positions in the stocks mentioned.

Jonathan Heller, CFA, is president of KEJ Financial Advisors, his fee-only financial planning company. Jon spent 17 years at Bloomberg Financial Markets in various roles, from 1989 until 2005. He ran Bloomberg's Equity Fundamental Research Department from 1994 until 1998, when he assumed responsibility for Bloomberg's Equity Data Research Department. In 2001, he joined Bloomberg's Publishing group as senior markets editor and writer for Bloomberg Personal Finance Magazine, and an associate editor and contributor for Bloomberg Markets Magazine. In 2005, he joined SEI Investments as director of investment communications within SEI's Investment Management Unit.

Jon is also the founder of the Cheap Stocks Web site, a site dedicated to deep-value investing. He has an undergraduate degree from Grove City College and an MBA from Rider University, where he has also served on the adjunct faculty; he is also a CFA charter holder.

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