The Net Nets That Aren't Paying Dividends

Net nets are companies that already have a strong liquid position with low liabilities and now it's generating cash flow from operations most of the time. They can fall into being a net at some times, but a long history of some profitability is really helpful. The kind of thing that would be a great net net if they became one are the semiconductor companies your microns and things like that. Those industries are so cyclical An inventory such a big part of it. In a good year in textiles, you'd suddenly make a lot of money. And then also just knowing those industries, right? So that's like auto parts. Mm-hmm.