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    Ian Cassel - A Micro Perspective

    Ian Cassel - A Micro Perspective

    FromThe Business Brew

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    Ian Cassel - A Micro Perspective

    FromThe Business Brew

    ratings:
    Length:
    85 minutes
    Released:
    Mar 30, 2023
    Format:
    Podcast episode

    Description

    Ian Cassel stops back by The Business Brew to check in.  As you may remember, Ian is a full-time microcap investor and founder of MicroCapClub. Ian started investing as a teenager and learned from losing his money over and over again. Today he is a full-time private investor that supports himself and his family by investing in microcaps.  He is also the author of two books:

    Intelligent Fanatics Project: How Great Leaders Build https://www.amazon.com/Intelligent-Fanatics-Project-Sustainable-Businesses/dp/0997576502/?_encoding=UTF8&pd_rd_w=7vP7f&content-id=amzn1.sym.22f5776b-4878-4918-9222-7bb79ff649f4&pf_rd_p=22f5776b-4878-4918-9222-7bb79ff649f4&pf_rd_r=140-2211477-9010244&pd_rd_wg=oufjI&pd_rd_r=438a9be9-ba2c-44c0-a800-30367bc020a7&ref_=aufs_ap_sc_dsk

    Intelligent Fanatics: Standing On The Shoulders of Giants https://www.amazon.com/Intelligent-Fanatics-Standing-Shoulders-Giants/dp/0997576537/?_encoding=UTF8&pd_rd_w=7vP7f&content-id=amzn1.sym.22f5776b-4878-4918-9222-7bb79ff649f4&pf_rd_p=22f5776b-4878-4918-9222-7bb79ff649f4&pf_rd_r=140-2211477-9010244&pd_rd_wg=oufjI&pd_rd_r=438a9be9-ba2c-44c0-a800-30367bc020a7&ref_=aufs_ap_sc_dsk

    Ian and Bill chatted because there was some noise about small and microcaps being cheap.  Then Bill said “Come on the show.”  And Ian said “Sure.”  And then they had this conversation.  And now you are listening.  We hope you enjoy!
     
    This episode is sponsored by Stratosphere.io.  Stratosphere.io is a web based terminal that has financial data, KPIs, links to filings, hedge fund
    letters, etc.  A key differentiator is Stratosphere.io’s segment data and KPIs, which are triple checked for accuracy.  Stratosphere saves users time, enables easy comparisons between companies, and offers company specific metrics such as subscriber counts, numbers of locations, etc.
    Head over to Stratosphere.io for a free trial.  Should you want to sign up for a paid offering please use the promo code BREW for 15% off.
    Thank you to the team at ⁠thepodcastconsultant.com⁠ for producing the show.
    Detailed Show Notes - 

    2:50 - Staying patient in illiquid ideas

    6:28 - The MicrocapClub conference

    10:20 - Findings a micro cap worthy of holding

    12:03 - Fallen angels vs rising stars

    18:50 - Quality vs value

    25:50 - What is Ian looking for in investments

    28:20 - Look global for microcaps

    30:20 - Why it is easier to raise money internationally than in the US

    35:50 - SPAC talk

    47:50 - Cogstate

    1:00:30 - How microcap changed over the past year

    1:05:50 - Training LPs, and yourself, to handle volatility

    1:06:50 - Why the first discovery is powerful

    1:11:30 - How Ian started MicroCapClub

    1:13:05 - Some briefy therapy

    1:15:30 - Concluding conversation
    Released:
    Mar 30, 2023
    Format:
    Podcast episode

    Titles in the series (100)

    Welcome to The Business Brew This podcast’s mission is to dig deep into the thought patterns and analysis of investors and business people. The podcast stemmed from Bill Brewster consistently feeling like he was listening to prepackaged material while listening to podcasts. Instead, he wanted long form, in depth, discussions about finance, capital allocation, and the psychology of investing/business. Bill is a private investor. He cohosts the podcast Value: After Hours with Tobias Carlisle and Jake Taylor. Tobias, Jake and Bill met at a Berkshire Hathaway meeting and formed a lasting friendship. And, as it turns out, people really like the podcast. While Bill tries to replicate Warren Buffett and Charlie Munger’s thought processes, he is heavily influenced by Bill Miller III, Stan Druckenmiller, and others. This podcast is his attempt to dig deeper into other investing/business philosophies and share the knowledge with the world. We are interested in interviewing portfolio managers, Wall Street sell side analysts, buy side analysts, private investors, owner operators, and anyone that is willing to go in depth about running a company/division. So, if you are interested in participating please email us with the subject “Guest Appearance.” Disclaimer: Bill manages a portfolio under the name of Sullimar Capital Group. This podcast is for informational and educational purposes only. Nothing in this podcast or on SullimarCapital.Group is investment advice. All information in this is opinion based, potentially biased, and requires verification. Bill and his guests make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness or reasonableness of the information contained in these podcasts. Any assumptions, opinions and estimates expressed constitute the participant’s judgment as of the date thereof and are subject to change without notice. Any projections contained in the information are based on a number of assumptions as to market conditions and there can be no guarantee that any projected outcomes will be achieved. This podcast does not accept any liability for any direct, consequential or other loss arising from reliance on the contents of this presentation. This podcast series DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICIATION OF AN OFFER TO BUY ANY SECURITIES MENTIONED OR DISCUSSED. Seek the your financial, tax, legal, accounting, or other advisor’s advice before making any investment decisions. We are not your fiduciary or advisor.