Exploring Microcap Investments: The FAIR Framework | 16min snip from We Study Billionaires

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TIP563: Lightning in a Bottle & Microcap Investing w/ Ian Cassel

We Study Billionaires - The Investor’s Podcast Network

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CHAPTER

Exploring Microcap Investments: The FAIR Framework

This chapter introduces the FAIR framework for researching microcap investments, covering its four critical components: Find, Analyze, Interact, and Research. It emphasizes the importance of thorough research methods, from brute force and screening techniques to networking for uncovering investment opportunities. Additionally, it discusses the necessity of due diligence, focusing on company culture, management quality, and stakeholder interactions to evaluate potential investments effectively.

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Episode notes

Clay Finck chats with fan favorite Ian Cassel about a wide array of topics, including the role of mentors in his development as an investor, the three characteristics of a business that lead to “Lightning in a Bottle”, and unconventional methods he uses to understand a business better than nearly all other investors.

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.

06:40 - The role networks and mentors have played in Ian’s development as an investor.

10:47 - How Ian recommends going about finding and developing a relationship with a mentor.

13:50 - How the microcap landscape has changed over the past 20 years.

18:09 - What countries Ian is finding his best microcap ideas.

19:33 - The three characteristics of a business that lead to “Lightning in a Bottle.”

37:47 - Unconventional ways that Ian analyzes and better understand a business.

48:15 - On-the-ground due diligence methods that Ian uses.

56:51 - How Ian performs maintenance due diligence after purchasing a stock.

59:29 - Why you shouldn’t “coffee can” microcaps.

64:03 - How Ian finds companies that are positioned to grow during any market environment.

68:00 - Why Ian prefers to be in the first wave of discovery in microcap land.

72:40 - How investors can source new investment ideas.

77:00 - The investment filter Ian has recently used to discover ideas before other microcap investors.

81:16 - What Ian’s daily journaling practice looks like.

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, and the other community members.
Ian’s Beginner’s Guide to Researching Microcaps.
Ian’s community, MicrocapClub.
Ian’s book, Intelligent Fanatics.
Check out of our review of Mastering the Market Cycle, or watch the video here.
Follow Ian on Twitter.
Follow Clay on Twitter.

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