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
00:0000:00

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

00:0000:00

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

00:0000:00