Thinking like Private Owners in the Public Markets with Jason Kirsch, Portfolio Manager at Rosen Partnership

My guest on the show today is Jason Kirsch, Portfolio Manager at Rosen Partnership and co-architect of the firm’s Active Value Strategy — a concentrated, long-only, private-owner-style approach to investing in micro-cap companies across Canada, the U.S., and Europe.

In this episode, Jason walks us through Rosen Partnership’s philosophy of thinking like private owners in the public markets: buying capital-light, high-ROIC compounders at meaningful discounts to intrinsic value; partnering with aligned management teams; and using “constructivism” — a collaborative, non-activist engagement style — to help unlock long-term value.

We dig deep into how Jason builds a true knowledge edge: talking not just to management, but to former executives, board members, competitors, suppliers — anyone who can broaden the mosaic and create an informational gap most investors simply aren’t willing to develop. Jason also shares lessons learned from catalysts that didn’t play out, how misaligned incentives can turn a bargain into a value trap, and why understanding your own psychology is just as important as understanding any business.

For more information about Rosen Partnership, please visit: https://www.rosenpartnership.com/

We just announced our full slate of investor conferences for 2026, all in partnership with MicroCapClub. Our next major event is Planet MicroCap: LAS VEGAS, happening June 16–18, 2026, at the Bellagio. Registration is now open for that. And, later in the year, we'll be heading back to Toronto, October 27-29, 2026 at the Arcadian Loft. The mission is to bring the best microcap investors and companies together to gather, connect, and grow. This includes your participation.

We know you are putting your 2026 investor conference calendars together, and we'd like to humbly invite you to join us for one or both of them. Please visit www.planetmicrocapshowcase.com for more information. See you in Vegas and Toronto!

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