Dave Waters - Searching Nooks and Crannies

Dave Waters of Alluvial Capital Management, LLC stops by The Business Brew to discuss how he approaches investing.  You can find all his letters, partnership info, etc., at https://alluvialcapital.com/
Dave primarily focuses on investments that you probably haven't heard of.  He invests in illiquid securities, foreign securities, companies coming out of bankruptcy, and more.  His portfolio is as unique as his path to investing.
We hope you enjoy the conversation.
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Detailed Show Notes:
6:45 – Why Dave likes to look at obscure areas of the market
10:30 – When Dave found P10 Holdings
15:30 – Why your threshold for buying needs to be higher in microcap
21:15 – Rebuttable presumptions against microcap companies and the need for cheapness
23:00 – How Dave got interested in Garrett Motion
35:30 – Assessing incentives
41:50 – Community Development Financial Institutions
43:40 – What got Dave interested in investing
54:00 – Are microcaps destined to underperform?
59:30 – Potential risks and rewards around international investing
1:08:00 – Using subsidies to your benefit
1:10:40 – SPV banter
1:19:00 – Where Dave sees himself in 10 years