Ian Cassel is the CIO at Intelligent Fanatics Capital Management
(“IFCM”). IFCM invests in the smallest public companies in the world.
They focus on businesses that are run by management teams who are
capable of growing those businesses while benefiting stakeholders. Ian also founded MicroCapClub.
In this episode Ian discusses how he became a microcap investor. One
of his first successes was XM Satellite Radio. He discovered the
company when it was a microcap trading for $2/sh and didn’t have any
contracts with car manufacturers yet. Ian saw they were presenting at
a conference in NY, got in a car, and met with the CEO. After that
meeting Ian became obsessed with turning into a full time private
Ian stresses the importance of doing deep due diligence, remaining
rational, and keeping personal expenses “variable.” He invests in a
concentrated manner (only a few stocks at a time), which is very
Buffett like. Unlike Buffett, however, Ian discusses the importance of
remaining open to selling winners. This is because Ian is “fishing in
a pond” of smaller companies and execution risk must always be
Ian is a refreshing voice in the investment community and we are happy to have him join the show!
Note: We reference Connor Haley’s presentation in this discussion.
That presentation can be found here.
Disclaimer: Bill manages a portfolio under the name of Sullimar Capital Group. This podcast is for informational and educational purposes only. Nothing in this podcast or on SullimarCapital.Group is investment advice. All information in this is opinion based, potentially biased, and requires verification.
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