TIP606: Multi-Bagger First Principles w/ Ian Cassel

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 9 February 2024

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, Clay is joined by Ian Cassel to discuss multi-bagger first principles, what he’s learned from investor Tony Deden, and biases he has had to overcome to continue improving as an investor. Ian is a full-time microcap investor and CIO of Intelligent Fanatics Capital Management. He is the founder of MicroCapClub.com and co-founder of the IntelligentFanatics.com. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro. 01:36 - Ian’s investment journaling and reflection process. 06:19 - What Ian has learned from managing a fund for over 5 years. 08:56 - A 2023 overview for Ian’s fund. 23:58 - What Ian learned from Anthony Deden. 27:43 - The multi-bagger first principles. 35:53 - A few case studies on multi-baggers. 53:26 - Why high insider ownership doesn’t correlate with stocks that outperform. 54:02 - How attribution bias influences investor behavior. 58:08 - Ian’s experience on the saying, “Risk is what you don’t see.” 61:03 - How Ian decides whether he should average down in a position or not. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Learn more about the Berkshire Summit by clicking here or emailing Clay at [email protected]. Ian’s presentation on Multi-bagger First Principles. Ian’s community, MicrocapClub. Ian’s book, Intelligent Fanatics. Ryan Pape’s interview at the MicroCap Leadership Summit. Related Episode: TIP563: Lightning in a Bottle & Microcap Investing w/ Ian Cassel | YouTube Video. Follow Ian on Twitter. Follow Clay on Twitter. Check out all the books mentioned and discussed in our podcast episodes here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Babbel NetSuite Shopify Linkedin Marketing Solutions Fundrise Wise TurboTax NDTCO Fidelity Vacasa BiOptimizers - Nootopia American Express Business Gold Card Efani HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to TIP.
0:02.8	On today's episode, I'm joined by Ian Castle to discuss multi-bagger first principles.
0:07.8	Ian Castle is a full-time micro cap investor and CIO of intelligent Fanatics Capital Management.
0:14.0	He's also the founder of Micro Cap Club.com.
0:17.2	In this episode, we cover Ian's Investment Journaling in Reflection Process, how we can discover
0:22.3	who we are as an investor, what Ian learned from
0:25.4	investor Tony Deeden, multibagger first principles and a few case studies on multibaggers, how high
0:31.6	insider ownership doesn't necessarily correlate with stocks that
0:34.8	outperformed the market, how to effectively average down in a position, and so much more.
0:40.0	It's always great bringing Ian on the show and I really appreciated the opportunity to chat with
0:44.3	him about multi-baggers.
0:46.3	With that, I bring you today's episode with the Ian Castle.
0:49.1	Celebrating 10 years. You are listening to the Investors Podcast Network.
0:57.0	Since 2014, we studied the financial markets and read the books that influenced self-made billionaires the most.
1:04.4	We keep you informed and prepared for the unexpected.
1:07.8	Now for your host, Clay Fink. Thank you.
1:25.8	Welcome to the Investors Podcast. I'm your host Clay Fink and today I'm thrilled to bring back Ian Castle and such an honor to have you back on the show. It's also to be back I appreciate the opportunity.
1:31.1	Well Ian one of the things I just really admire about you is how thoughtful you are and how
1:36.2	intentional you are and everything you do.
1:38.9	It's made it such a pleasure for me in getting to know you over the past year or so. So with that said, during our previous chat,
1:45.6	we touched a bit on journaling.
1:47.4	And I'm sure you've thought about 2023
	...

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