The Acquirers Podcast Lowell Capital's Jim and Abigail Zimmerman on LNF.TO, LYTS, MACF.L, and IWG.L | S07 E24
11 snips
Jul 24, 2025 
Jim and Abigail Zimmerman, partners at Lowell Capital, delve into small-cap value investment strategies focused on growth at value prices. They discuss the importance of cash flow management and balance sheets in identifying undervalued companies while avoiding value traps. The duo offers insights on market conditions, with emphasis on small-cap stocks and the fundamentals over economic predictions. They explore innovative projects in urban development and invest in both Canadian giants and niche innovators, shedding light on resilience in the packaging industry.
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Focus on Cash Flow and Balance Sheets
- Jim and Abigail Zimmerman emphasize buying growth companies at value prices with strong cash flow and fortress-like balance sheets.
- They focus on cash from operations over EBITDA as a key indicator of business health and durability.
Avoiding Value Traps
- Avoid value traps by focusing on companies with sustainable cash from operations and prudent cash usage.
- Exit positions if free cash flow trends downward, no matter the explanations.
Justify Holding Cash
- Hold cash when quality investment opportunities are scarce to protect downside.
- Be patient and selective rather than fully invested at all times.
