In this episode of Yet Another Value Podcast, host Andrew Walker shares a keynote Q&A from the Showcase Vegas event with returning guest Artem Fokin of Caro-Kann Capital. Artem breaks down his concept of “superpowers” in investing—an individual’s unique edge based on comparative advantage—and how it shapes portfolio decisions. The discussion extends into sell discipline, including identifying when a thesis is broken and handling emotional pitfalls during drawdowns. Artem also touches on evaluating management teams, international microcap investing, and the psychological toll of investing for a living. The conversation is a practical dive into staying grounded and focused amid the volatility of markets.
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[0:00:00] Intro & sponsor message.
[0:02:45] Andrew introduces Artem.
[0:03:45] Defining investment 'superpower'.
[0:05:08] Artem's investing superpower explained.
[0:06:30] Identifying others' superpowers.
[0:08:15] Matching skills to stock selection.
[0:09:30] Using expert calls effectively.
[0:10:55] Selling stocks on thesis change.
[0:13:46] Holding through macro noise.
[0:15:12] Assessing management capability.
[0:17:30] Micro vs. large cap dynamics.
[0:19:30] International vs. US investing.
[0:23:10] Mental resilience in investing.
[0:26:00] Avoiding emotional decision-making.
[0:30:00] Balancing fund and personal finance.
[0:33:00] Final thoughts and close.
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