We define my hair cap as sub 500 million market cap.

You know, I'm really looking to initially invest in something sub 100 million, which is really

where there's no institutional ownership, there's no analyst coverage, there's nothing.

And I think it's, is it a dangerous place to invest?

Yes, but it's a great place to invest to learn stock picking because you're forced to do the work.

There's no analysts there that you can lean on it.

You've got to do the work yourself.

And it's that independent mindset that is crucial to becoming a better stock picker.

And so, you know, it's not a surprise that the best stock pickers ever came out of the microcap ecosystem.

I'm Mary Long, and that's Ian Castle. He's a microcap investor, the founder of MicroCap Club, and the author of two books.

Ian joined Motley Fool senior analyst Buck Hartzell for a conversation on microcap investing.

They talk about intelligent fanaticism, a pesto sauce maker that became a 28-bagger, and why

microcaps are like four-year-olds.

I've been at the Fool for over a quarter of a century, and we fielded a lot of questions

from investors that are excited about investing in this space.

And what I've seen is a lot of them get off on the wrong track and it kind of sets them up

from failure, but this is an exciting part of the market.

And I think you do things the right way.

And we're going to learn some great lessons today about how you can be successful in microcap investing.

But first, I want to just start it off simply.

Can you define what we're talking about here when we talk about microcaps?

Sure.

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