Planet MicroCap Podcast | MicroCap Investing Strategies

Interviewing Company CEOs: The Must-Ask Question Checklist Every Investor Needs with Gary Mishuris, Managing Partner and CIO at Silver Ring Value Partners

Aug 15, 2023

Gary Mishuris, Managing Partner and CIO at Silver Ring Value Partners, shares a checklist of must-ask questions for investors when interviewing company CEOs. He emphasizes the importance of establishing goals before speaking with management and constructing questions based on those goals. Topics covered include understanding CEO values, assessing competitive advantage and capital allocation, evaluating CEO beliefs through historical actions, and approaching conversations with management about concerns.

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Introduction

00:00 • 5min

Importance of Interviewing CEOs

04:49 • 23min

Key Questions for CEOs: Competitive Advantage and Capital Allocation

28:08 • 4min

Insights on CEO beliefs, historical actions, and market dichotomy

31:56 • 2min

How to Have a Conversation with Management

34:24 • 13min

Where to Follow the Speaker and Subscribe to Their Newsletter

47:43 • 2min

My guest on the show today is Gary Mishuris, Managing Partner and CIO at Silver Ring Value Partners. As I've mentioned on every show leading up, we have our conference, the Planet MicroCap Showcase: VANCOUVER coming up on September 6-7, 2023 (planetmicrocapshowcase.com for more information), and it is a great opportunity for attendees to meet with MicroCap management teams and ask them questions. We've covered this topic quite often here on the show, but: 1. We haven't in a while, and 2. Gary's article, same as today's episode title, I think provides a solid framework/check list of questions that every investor could refer to when thinking about what they want to speak with management about. My biggest takeaway that stuck with me is asking yourself the following: "what are you trying to accomplish" in your interaction with management. I think most folks go into these conversations and their goal is thinking they can get CEOs to give them information that's either borderline or non-public altogether. Most management teams are wise to those tricks and will lose respect for you as an investor because they get the game you're trying to play. But asking yourself "what are you trying to accomplish", perhaps trying to build a relationship with the CEO or getting a feel of the CEOs values, and then constructing questions around that, I think can help you immensely with getting the results you're hoping for. There's even more quality insight from Gary, so hopefully you'll see its not just another "How To" talk to management episode. Gary Mishuris' article on Stubstack: https://behavioralvalueinvestor.substack.com/p/interviewing-company-ceos-the-must For more information about Silver Ring Value Partners, please visit: https://silverringvaluepartners.com/

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