Planet MicroCap Podcast | MicroCap Investing Strategies

Financial Archaeology: Deep Research and Uncommon Insights with Gwen Hofmeyr, Founder and Senior Analyst at Maiden Financial

Nov 6, 2025

In this discussion, Gwen Hofmeyr, Founder and Senior Analyst at Maiden Financial, delves into her unique approach known as 'financial archaeology.' She emphasizes the significance of deep, original research that often requires 200 to 600 hours per company. Gwen shares insights on identifying hidden opportunities in Europe’s industrial and lagging-edge tech sectors. She highlights how AI complements, rather than replaces, thorough human analysis, and provides practical advice for aspiring microcap investors on mastering accounting and understanding market dynamics.

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INSIGHT

AI And Passive Investing Raise Value Of Original Work

The rise of passive, quant, and AI-created content increases the value of original human research.
Deep, uncommon analysis fills a market gap because many firms won't commission such work.

INSIGHT

Deep Work Creates Differentiated Research

Gwen builds a research process so time-consuming it's hard to replicate and yields unique information.
She calls this "financial archaeology," excavating companies like an undug dig site to gain owner-level understanding.

ANECDOTE

3,000-Product Dive Revealed Melexis Niche

Gwen studied over 3,000 products to discover Melexis's niche dominance in position sensors.
That product-level work explained why Melexis was far more profitable than much larger peers.

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My guest on the show today is Gwen Hofmeyr, Founder and Senior Analyst at Maiden Financial. In this episode, Gwen walks us through her unique research methodology — which she refers to as “financial archaeology.” This is a process built around extremely deep, original investigative work designed to uncover uncommon information — insights that simply aren’t available in typical company reports or mainstream research.

We discuss how Gwen routinely spends 200 to 600 hours analyzing a single company, validating market share by breaking down thousands of individual products, and constructing an understanding of a business that is entirely independent of management narrative and sell-side opinion. We also talk about how this approach leads to owner-level conviction, and why that conviction matters so much in the microcap universe, where volatility is high and broad consensus is often absent.

Gwen also shares why some of the most compelling opportunities she’s finding today are in Europe, particularly in industrial and lagging-edge technology companies, and how AI is actually increasing the value of deep human research — not replacing it.

For more information about Maiden Financial, please visit: https://www.maidenfinancial.io/

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