We Study Billionaires - The Investor’s Podcast Network

TIP606: Multi-Bagger First Principles w/ Ian Cassel

121 snips
Feb 9, 2024
Guest
Ian Cassell
Ian Cassel, a microcap investor and CIO of Intelligent Fanatics Capital Management, shares valuable insights into investment strategies. He discusses his investment journaling process and lessons learned managing a fund. Key topics include the significance of high insider ownership, biases like attribution bias, and the concept of 'active patience' in investing. Cassel also delves into identifying multi-bagger stocks and the importance of unique business models, supported by fascinating case studies of companies that have achieved exponential growth.
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ADVICE

Analyze Mistakes vs. Losses

  • Analyze mistakes versus losses to improve as an investor.
  • Mistakes happen when losses become bigger due to inaction or wrong actions.
ADVICE

Inertia Analysis

  • Use inertia analysis: Compare your portfolio's performance to a hypothetical "coffee-canned" portfolio.
  • This helps identify if your actions hurt or help returns.
INSIGHT

Tinkering Hurts Returns

  • Excessive tinkering with portfolios often hurts investment returns.
  • Fewer decisions can lead to better investment outcomes.
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