IndexUniverse reports that three exchange-traded notes based on the investing philosophy of Benjamin Graham are in the works. (A quick primer on ETNs: Like ETFs, they mimic the performance of an index and trade on exchanges. But instead of holding a portfolio of stocks, ETNs are typically filled with bonds that promise to repay the amount of your investment plus the return of the index, minus a management fee.)
According to this news release, the three ETNs (which focus, separately, on large-cap value, small-cap value, and total-market value) aim to "identify businesses with strong, liquid balance sheets that trade at a discount to their implied intrinsic value by implementing the investment principles of Benjamin Graham." Graham, the famed economist and value-investing pioneer, inspired many financial-world heavyweights, including protégé Warren Buffett.