Problems can be opportunities. But how do you distinguish an opportunity from a real problem? Among a group of troubled stocks, how does an investor know which one are worth investing in? For that, we look to the Father of Value Investing for an answer. Benjamin Graham believes that a stock offers great margin of safety when it is trading below two-thirds of the difference between its Current Assets and Total Liabilities. He calls this Net Current Asset Value or NCAV in short. Please do not mistake NCAV with BigFatPurse’s Conservative Net Asset Value (CNAV). They are not the same! Depending on the types of assets the company has, NCAV can be more conservative than CNAV and vice versa. For those who do not understand the terms, fret not. I will explain them. Current Assets are assets that can be liquidated within a year while Non-current Assets are expected to be held beyond one ......