On today’s episode, Clay is joined by Ian Cassel to discuss multi-bagger first principles, what he’s learned from investor Tony Deden, and biases he has had to overcome to continue improving as an investor.
Ian is a full-time microcap investor and CIO of Intelligent Fanatics Capital Management. He is the founder of MicroCapClub.com and co-founder of the IntelligentFanatics.com.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro.
01:36 - Ian’s investment journaling and reflection process.
06:19 - What Ian has learned from managing a fund for over 5 years.
08:56 - A 2023 overview for Ian’s fund.
23:58 - What Ian learned from Anthony Deden.
27:43 - The multi-bagger first principles.
35:53 - A few case studies on multi-baggers.
53:26 - Why high insider ownership doesn’t correlate with stocks that outperform.
54:02 - How attribution bias influences investor behavior.
58:08 - Ian’s experience on the saying, “Risk is what you don’t see.”
61:03 - How Ian decides whether he should average down in a position or not.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
SPONSORS
Support our free podcast by supporting our sponsors:
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
Learn more about your ad choices. Visit megaphone.fm/adchoices