Ep. 40 - Rise of Shareholder Activism with Jeff Gramm, Author of “Dear Chairman”

March 15, 2017

For this episode of Planet MicroCap Podcast, I spoke with Jeff Gramm, Author of the book, “Dear Chairman.” In Episode 22 with Adam Epstein, we discussed at length the importance of corporate governance, not just for MicroCap boardrooms, but for all public companies. Since that conversation, I wanted to learn more about corporate governance and what should be done in the event that C-suite management and board of directors aren’t acting in the best interest of shareholders. I discovered the best way for me to understand this topic was anecdotally. I came across “Dear Chairman” by Jeff Gramm on a reading list, and I’m glad I did because it really helped me understand the rise of shareholder activism and the effect it’s had on corporate governance. In this interview, you will learn about his background, his approach to investing and we discuss his book, “Dear Chairman.” Reading lists are great resources as I have found, and I highly recommend adding Jeff’s book to your list.

Click here to rate and review the Planet MicroCap Podcast

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Winter/Spring 2017

In this episode, Jeff and I discuss the following topics:

- Jeff's background and how he got started investing in MicroCaps

- His experience teaching a value investing course at Columbia Business School. 

- Qualitative vs. qualitative approaches to investing

- His investing strategy when looking at MicroCap stocks

- What is "Dear Chairman" about and why he felt it was important to describe this aspect of financial history

- What is shareholder activism?

- Is there a difference in shareholder activism between Large Caps and MicroCaps?

- One prevailing theme that each activist observed is that the management ownership of the company was not in line with the interests of the shareholders – specifically, CEOs owning a very small percentage of the business. Why he thinks this persists, and even if a company is being run well, doesn’t that leave an operator vulnerable?

- “If shareholders continue to be passive, they will continue to shorn like sheep” – especially with MicroCaps, while CEOs are much more accessible, where he draws the line between passive and active? If everyone was active, how can the CEO run his/her business?

- What is the “Poison Pill”?

- In chapter 5, you also highlight how institutions started taking a more active approach with their holdings. How has the awakening of institutional investors impacted public company governance and is there a fundamental difference than from individual shareholders?

- Based on the many examples you gave in the book, for MicroCaps, what he thinks is the best formula for a corporate board

- Each chapter of the book highlights a new “era” of shareholder activism – what era would he says he learned the most from and had the greatest affect on his approach investing

- How he sees shareholder activism evolving

- Advice for new MicroCap investors

For more information about Jeff Gramm and "Dear Chairman", please visit:

www.DearChairman.com

You can follow Jeff on Twitter @jeff_gramm

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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Ep. 39 - Strategies for Investing in Canadian MicroCap Stocks with Paul Andreola and Brandon Mackie, Small Cap Discoveries

March 1, 2017

For this episode of Planet MicroCap Podcast, I spoke with Paul Andreola and Brandon Mackie, Editor and Writer/Researcher at Small Cap Discoveries. I’m very excited that Paul and Brandon will be speaking at our annual event, the Planet MicroCap Showcase – April 26-28, 2017 at the Planet Hollywood Resort & Casino in Las Vegas, NV. They have a very unique MicroCap investing perspective, which we discuss at length in this interview, especially with regard to their core investing strategy and process when looking at Canadian MicroCap stocks.

I also spoke with them about the panels they will be speaking on at the Planet MicroCap Showcase, discuss at length the history, investing landscape and infrastructure in Canada, as well as, accessibility for US investors to invest in Canadian listings and their assessment of the Canadian investing climate currently. The goal for this episode is learn more about Brandon and Paul’s strategies when looking at Canadian MicroCap stocks, how they find new ideas and their thoughts on the current Canadian investing market.

Click here to rate and review the Planet MicroCap Podcast

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Winter/Spring 2017

In this episode, Paul, Brandon and I discuss the following topics:

- Brandon and Paul's backgrounds and how they got started investing in MicroCap stocks

- When and why they both started looking at Canadian MicroCap stocks 

- What is Small Cap Discoveries and is there a sector or sectors in particular they focus on

- Core investing strategy when assessing a potential new investment

- How do they find new ideas

- At Small Cap Discoveries, they cover Canadian microcaps primarily, and its been gaining more visibility. Why do they think this is?

- Is it difficult for US investors to invest in Canadian MicroCap stocks?

- Where they both see the Canadian MicroCap market going

- With more attention given to the sector, are they worried that all the new quality stories have been exhausted

- Brandon and Paul will be speaking at the Planet MicroCap Showcase in Las Vegas, April 26-28, 2017. Brandon will be on the first ever LIVE Planet MicroCap Podcast, and Paul will be joining Maj Soueidan and Brent Cook on the MicroCap newsletter panel. Why do they think MicroCap newsletters are important to the MicroCap community

For more information about Paul Andreola, Brandon Mackie and to subscribe to their newsletter, please visit:

www.SmallCapDiscoveries.com

You can follow Paul on Twitter @PaulAndreola

You can follow Brandon and Small Cap Discoveries @SmallCapDisc

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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Ep. 38 - Learning from the Greatest Investors of All Time (GIOAT) with Rupert Hargreaves, Hidden Value Stocks Newsletter and ValueWalk.com

February 22, 2017

For this episode of Planet MicroCap Podcast, I spoke with Rupert Hargreaves, Editor of the Hidden Value Stocks Newsletter and Value Reporter at ValueWalk.com. Rupert’s website, ValueWalk.com, has a vast amount of information and resources related to Value Investing, including: investing book recommendations and stock screeners based on strategies put forth by well-known value investors, as well as interviews Rupert has conducted with well-known hedge fund and portfolio managers. One aspect I love about investing is the application of principles that were successful for one asset class and if they can be applied to another asset class. The goal for this episode is to learn more about some of the greatest investors of all time, resources available at ValueWalk.com, and Rupert’s favorite lessons he’s learned in his conversations with hedge fund and portfolio managers.

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Winter/Spring 2017

In this episode, Rupert and I discuss the following topics:

- Rupert's background and your experience with MicroCap stocks

- What is ValueWalk.com?

- His goals with ValueWalk.com and why do he feels its necessary to share the information that it does

- His recommendations for investing books and why those for new MicroCap investors

- He's done extensive work on some of the greatest investors of our time, like Benjamin Graham and Warren Buffet – what was their investing style and why has it stood the test of time?

- Overview of the stock screeners featured on ValueWalk.com

- Some of your favorite lessons he's learned from his conversations with hedge fund and portfolio managers

- His advice for new MicroCap investors

For more information about Rupert Hargreaves, Value Walk and Hidden Value Stocks Newsletter, please visit:

www.ValueWalk.com and www.HiddenValueStocks.com

You can follow Rupert on Twitter @ruperthargreav1

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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Ep. 37: Banking Sector, Investing Books and Articles with Nate Tobik, Founder/CEO, CompleteBankData.com and Author, Oddballstocks.com

February 8, 2017

For this episode of Planet MicroCap Podcast, I spoke with Nate Tobik, Founder/CEO of CompleteBankData.com and Author at Oddballstocks.com. I’d been following Nate’s blog for some time now and I reached out because one thing in particular that Nate covers on his blog that we haven’t discussed on here yet, is the banking sector. Also, I could relate to a lot of what Nate says in this interview, especially when we discuss reading investing books. It’s important not to feel discouraged when reading these books, rather, write down terms and phrases you don’t know, and look them up on Investopedia – that’s what I did. Quite frankly, I still do that. The goal for this episode is to learn more about the banking sector, not to get discouraged when first reading investing books and discuss a few investing phrases we’ve yet to cover until now.

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Winter/Spring 2017

In this episode, Nate and I discuss the following topics:

- Nate's background and how he got started investing in MicroCap stocks

- Strategy when assessing a potential new investment

- What experience really helped shape his investing strategy

- Investing books

- An overview of the banking sector – regional banks, community banks, MicroCap companies in banking

- What about the banking sector is particularly interesting to Nate

- From the Oddballstocks.com blog – one that I read from February last year that I found interesting was, “Is screening completely worthless?” Nate's thoughts on this

- How he finds new investing ideas

- Why doesn't he use "Watch Lists"?

- What does the phrase “dead money” mean?

- From his article this past November, when does he “give up” on a stock - what does that mean?

- His advice for new MicroCap investors

For more information about Nate Tobik, please visit: www.CompleteBankData.com and www.OddBallstocks.com.

You can also follow Nate on Twitter @Oddballstocks

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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Episode 36 - Why MicroCap Stocks? with Scott Felsenthal and Todd Massedge, WhyMicroCaps.com

January 25, 2017

For this episode of the Planet MicroCap Podcast, I spoke with Scott Felsenthal and Todd Massedge to discuss their project, WhyMicroCaps.com. Since speaking with Scott on Episode 10, he has partnered up with Todd to create WhyMicroCaps.com to, as they say, “do their part in helping to bridge the gap between the reality and the perception of microcaps.” The goal for this podcast is to answer the question Why MicroCaps, and then discuss a few of their educational articles featured on their blog roll.

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Fall 2016

In this episode, Scott, Todd and I discuss the following topics:

- Scott and Todd's backgrounds and how they got their start investing in MicroCap stocks

- What is WhyMicroCaps.com? 

- Why they think investors should care about MicroCap stocks

- What they mean when they state, “You can invest where the best and brightest on Wall Street can’t”

- What can we learn from investing in MicroCap stocks?

- Should investors interested in MicroCaps be concerned about the time commitment it takes to find that next multi-bagger?

- Concentration vs. diversification

- Why are our worst investments the most important, according to an article from the website?

- Lessons they have learned investing in MicroCap stocks

For more information about Scott Felsenthal and Todd Massedge, please visit: www.WhyMicroCaps.com

You can follow Scott @scottfelsenthal and you can follow Todd @toddalphatree

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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Episode 35 - Investing Pitfalls to Avoid, Searching for Gold in SEC Filings and 2017 with Mike Schellinger, MicroCapClub.com

January 11, 2017

For this episode of Planet MicroCap Podcast, I caught up with my guest from Episode 11, Mike Schellinger from MicroCapClub.com. When we first spoke, we discussed his life as a full-time MicroCap investor, as well as his approach to MicroCap investing. In this interview, I wanted to get his insight on 2017 – trends to look out for this year and how the recent election may affect the MicroCap space. But more importantly, he’s one the main contributors to MicroCapClub.com, and he wrote two articles that I wanted to cover at length in this interview: “Investing Pitfalls to Avoid,” and “Searching for Gold in SEC Filings”. The goal for this episode is to learn about what Mike believes investors should look out for when looking at MicroCap stocks, as well as how he finds “gold” in SEC Filings and what that means.

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Fall 2016

In this episode, Mike and I discuss the following topics:

- For those who missed our first interview, Mike's background and how he got into investing in MicroCaps

- We are now in 2017, what are some themes to look out for in MicroCaps for 2017

- Was there anything that happened in 2016 that he thinks may have an affect on the MicroCap space in 2017

- Big election year, what effects could a Trump presidency have on the MicroCap space

- Its been a while since Mike and I spoke and he's published a few very interesting articles on MicroCapClub.com. From his article, "Investing Pitfalls to Avoid", what he doesn't want in an investment

- Based on his article, "Searching for Gold in SEC Filings", what are some of the positive and negative items we should look for in SEC Filings?

- One thing that's been said a couple times on the podcast and I was curious to ask Mike about - where are the new names in MicroCaps? 

- How have things progressed at the MicroCapClub? Trends in MicroCap that Mike has observed while maintaining the site

- What are the dates for next year's MicroCap Leadership Summit and where can my audience go to buy their ticket? 

For more information about Mike Schellinger and the MicroCapClub, please visit: www.MicroCapClub.com, and you can follow Mike on Twitter @MikeDDKing

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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Episode 34 - Deep Value Investing with Tobias Carlisle, Carbon Beach Asset Management

December 27, 2016

For this episode of Planet MicroCap Podcast, I spoke with Tobias Carlisle, the Founder and Managing Partner of Carbon Beach Asset Management LLC, and he serves as Chief Investment Officer. I met Tobias at a conference recently, where we discussed doing an interview for the podcast. I didn’t know much about Tobias at the time, but upon further research, along with his work at Carbon Beach Asset Management, he’s also a published author having written three books on topics ranging from: deep value investing, activism, concentrated investing, and contrarian investing. These are all topics I want to learn about from him for the podcast. The goal for this episode is to learn about what deep value investing means, and a couple other key phrases we’ve heard a few times on this podcast and how they relate to MicroCap stock investing.

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Fall 2016

In this episode, Tobias and I discuss the following topics:

- Tobias' background and experience investing in MicroCap stocks

- What does “deep value” investing mean?

- There’s a couple key phrases that have been mentioned on the podcast: “activism” and “contrarian” – what do these terms mean and why are they relevant to MicroCap investing?

- In his book, “Deep Value”, Tobias discusses why activist investors and other contrarians battle for control of losing corporations, what is the reason for this?

- What are the deep-value investment principles that Carbon Beach employs?

- With that philosophy in mind, what is then the investment process?

- What experience he draws upon that helped shape his investing philosophy

- Advice for new MicroCap investors

For more information about Tobias Carlisle, please visit any one of the following: 

And on Twitter @greenbackd
 
You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com
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MicroCap Stocks: 2016 Year-in-Review with Maj Soueidan, GeoInvesting.com

December 22, 2016

This is a special podcast episode with a previous guest on the podcast, Maj Soueidan from GeoInvesting.com. I wanted to do an episode reviewing what happened in the MicroCap space in 2016. As a newsletter writer and full-time investor, Maj provides his thoughts on the year that was.

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Fall 2016

You can follow Maj Soueidan @MajGeoInvesting and for more information about GeoInvesting, please visit: www.GeoInvesting.com

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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Episode 33 - Diversifying Your MicroCap Stock Portfolio with Bill Hench, The Royce Funds

December 7, 2016

For this episode of Planet MicroCap Podcast, I spoke with Bill Hench, Portfolio Manager at Royce Funds. For more than 40 years, Royce & Associates, investment advisor to The Royce Funds, has been managing MicroCap, Small-Cap and small/midcap portfolios. Bill and his partner, Buzz Zaino, run the MicroCap Opportunity Fund and the Opportunity Fund. I wanted to speak with Bill to get his perspective on MicroCap investing. A couple things stood out in our interview, including: Bill and Buzz’s four themes for portfolio construction, his definition of “cheap” stocks, but I thought Bill’s point about diversification vs. concentration as a MicroCap investor was also intriguing. He brought this point up multiple times throughout our interview. The goal for this episode is to learn about Bill’s approach to portfolio construction, advice for new MicroCap investors, his stance on diversification vs. concentration, and much more!

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Fall 2016

In this episode, Bill and I discuss the following topics:

- Bill's background

- What got Bill into investing in MicroCap stocks

- Describes the Opportunity Fund and the Micro-Cap Opportunity Fund at Royce

- Diversified vs. concentrated portfolio

- How Bill defines a "cheap" stock

- Asset plays, turnarounds, undervalued growth stories and interrupted earnings are Bill's four themes for portfolio construction: why focus on these themes?

- What does a “Deep Value Strategy” mean?

- In one of Bill's videos, he mentions that a third of the portfolio at any given time includes turnarounds and “broken IPOs”, how do you assess companies that you think fit this mold for potential investment?

- “Exploiting Market Inefficiencies” is a key phrase that many MicroCap investors/funds find attractive about MicroCap investing: what the phrase means to Bill

- Does Bill ever overweigh one sector or another and conversely do you avoid any sectors in their entirety?

- An experience(s) that shaped his MicroCap investing strategy

- Bill's advice for new MicroCap investors

For more information about Bill Hench and The Royce Funds, please visit: www.RoyceFunds.com

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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Episode 32 - Why it’s ok to Question Your Investing Thesis with Jason Hirschman, @EightTrack18

November 23, 2016

For this episode of Planet MicroCap Podcast, I spoke with Jason Hirschman, a private investor who goes by the handle @EightTrack in the MicroCapClub and @EightTrack18 on Twitter. I met Jason during a networking party at the MicroCapClub Leadership Summit, and we were going over the company presentations we had just seen that day. I really enjoyed hearing his thoughts and how he assessed management that presented their companies today. The one thing I took away from our conversation was that, while it’s important to put together your investing thesis: you know, what works and what doesn’t; it’s also really important to question that very same investing thesis. The goal for this episode is to learn about Jason’s investing strategy, how he questions management and his advice for new MicroCap investors.

The Planet MicroCap Podcast is brought to you by SNN Incorporated, publishers of StockNewsNow.com, The Official MicroCap News Source, and the MicroCap Review Magazine, the leading magazine in the MicroCap market - check out the latest issue here: MicroCap Review Fall 2016

In this episode, Jason and I discuss the following topics:

- Jason's background and how he got started investing in MicroCap stocks

- His criteria when assessing a MicroCap company for potential investment

- His MicroCap investing thesis

- How Jason speaks with management

- Types of questions to he'll ask management

- When it comes to your investing strategy and interviewing management, is it more about grilling management or doing your best to disprove your own thesis

- MicroCap investing experiences that taught him a valuable lesson and shaped his thesis

- Jason's advice for new MicroCap investors

- Resources he would recommend new MicroCap investors get familiar with

For more information about Jason Hirschman, you can follow him on Twitter @EightTrack18

You can follow the Planet MicroCap Podcast on Twitter @BobbyKKraft, and you can also listen to this interview on StockNewsNow.com

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