While the Value Investing framework Warren Buffett's mentor actually recommended was slightly different, he did mention 2/3rd Net Current Asset Value as one of his own strategies.
Dollar Cost Averaging (DCA) — when combined with an Index Fund — provides a highly effective way of applying powerful Value Investing principles with very little effort.
The investment framework of Benjamin Graham — Warren Buffett's mentor — also provides the behavioral framework for making coldly logical financial decisions.
The Value Investing framework of Warren Buffett's mentor can also be used to evaluate Banks, Insurance Companies and other stocks that don't report Current Assets and Current Liabilities.