8min chapter

TIP606: Multi-Bagger First Principles w/ Ian Cassel

We Study Billionaires - The Investor’s Podcast Network

notes

CHAPTER

The Maturation of an Investor

Reflecting on past mistakes, learning from them, and honing in on what works for individual investors is emphasized in this chapter. Developing investment principles and strategies takes time, and the importance of patience is highlighted.

00:00

Transcript

Episode notes

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 clay@theinvestorspodcast.com.
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
Sun Life
The Bitcoin Way
Meyka
Sound Advisory
Industrious
Range Rover
iFlex Stretch Studios
Briggs & Riley
Public
American Express
USPS
Shopify

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!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm