Even today, eight years after this post was written, net nets are more prevalent than you think. Right now, I count a full 140 stocks (excluding financial services, mortgage REITs, and real estate developers) in the US currently trading as net nets. There are ~130 in Europe. Both China and Japan have even more. India has ~30. This is a big universe to dig into, even in today's frothy market, where net nets should be scarce.