The Net-Net approach would miss out growth stocks like Alibaba, Facebook and Salesforce. How can the Net-Net approach accommodate this?

It isn't wrong to buy wonderful stocks at fair prices. Just that a lot of people think they can invest like Warren Buffett (Why not say we can run like Usain Bolt if we run like him?).

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Warren Buffett is a different league and there's a reason why he says that - it is applying to himself and not to everybody. Advice needs to be contextualised. His context and our context are different. We should be following the young Buffett (who does Net Net), not the current Buffett.

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This is another dangerous belief that has been spreading around for too long.

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My experience tells me that it is easier for most people to make money from stock picking if they use value strategies like Net Net.