Ian Cassel on The Art of Microcap Investing: Identifying Hidden Gems | #542

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 19 July 2024

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s guest is Ian Cassel. Ian is the founder of MicroCap Club, which is a best idea generator and networking resource for the microcap space. Ian is also the CIO of Intelligent Fanatics Capital Management, which invests in small, illiquid microcaps. In today's episode, Ian gives an overview of the microcap space. He shares common mistakes people make when investing in microcap stocks, what he looks for when analyzing companies, and common characteristics he's found in multi-bagger stocks. (1:05) Overview of the micro-cap sector (3:12) Misconceptions about micro-cap stocks (7:52) Advantages of micro-caps in public markets (14:14) Ian's investment journey (27:30) Case studies (33:03) The discovery phase (37:21) Ian's current holdings (44:32) Selling strategies (46:33) Analyzing the current micro-cap landscape (50:27) Ian's most memorable investment ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: Twitter | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mebb Faver Show, where the focus is on helping you grow and preserve your wealth.
0:10.8	Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help
0:15.4	you grow wealthier and wiser.
0:17.1	Better investing starts here.
0:19.6	Meep Baber is the co-founder and chief investment officer of Cambria Investment Management. Due it industry regulations he will not discuss any of Cambra's funds on this
0:25.0	podcast. All opinions expressed by Podcast participants are solely their own opinions and do not
0:28.7	reflect the opinion of Cambria Investment Management or its affiliates.
0:30.9	For more information, visit cameria Investments.com
0:35.2	Welcome back y'all it's summertime and we got another awesome episode today. Our
0:40.1	guest is Ian Castle. Ian's the founder of the Micro Cap Club,
0:44.5	which is a best idea generator
0:46.6	and networking resource for the micro cap space.
0:49.5	Ian is also the CIO of intelligent fanatics Capital Management, which invests in small
0:55.3	illiquid microcaps.
0:57.0	Today's episode, we're going to talk all about microcaps,
1:00.3	the common characteristics of multi-baggers, and welcome the show it's awesome to be here
1:06.8	I've been a big fan of the show for many years thanks for having me on
1:10.3	When someone says micro cap to you what does that actually mean here in 2024 how do you define a micro cap?
1:16.4	Well, I know in micro cap club we recently increased the market cap threshold just due to inflation over the last few years but I would say typically it's and it depends on where you're from but usually we define it as sub 500 million market cap
1:31.2	USDA and it used to be And it used to be 200, it used to be 300.
1:36.0	Quite honestly, it depends if the asset class,
1:38.2	as a whole is in vogue or not with the investment community,
	...

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