MicroCapClub

Episodi

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  Is AI Making Us Dumber? | Michael Fritzell 21.09.2026 27min

  Michael Fritzell writes Asian Century Stocks, a research service covering undercovered equities across Asia. He spent sixteen years on the buy side in Hong Kong, Singapore, and Indonesia before leaving in 2021 to publish full-time, and now writes deep dives on companies that receive almost no analyst coverage.This discussion took place live on September 2nd, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join In this conversation, Michael explains how he uses generative AI in his research process: the saved prompts he runs on any new ticker, including a bull-versus-bear project and one built to surface red flags in the accounts, and where he refuses to use these tools at all, namely calculations and writing. He also talks about where he finds ideas that AI can't commoditize, mainly insider transaction data and broken IPOs in Asia, and why he shifted from buying low P/E stocks to targeting a prospective IRR and selling once it falls below his cost of capital. He argues that faster research doesn't automatically mean better returns, which leads to the question of why an investor would cover two hundred stocks a year instead of twenty.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Intro02:01 Is AI making us dumber?02:56 Where you shouldn't outsource to AI03:17 Benchmarking ChatGPT, Gemini, Claude and Grok05:30 Getting up to speed on a company in hours07:23 The bull vs bear prompt08:19 What he won't use AI for09:05 Why AI writing loses the reader09:50 Brainstorming, obscure data and summaries11:21 Using Claude for error checking12:02 Writing by hand in an age of AI slop13:26 What AI changed in his own business15:44 From low P/E to prospective IRR17:41 Knowing when to sell18:18 Idea generation: insider transactions21:04 Broken IPOs and borrowing from others21:23 Red flags prompt for Asian due diligence22:46 Why he still writes 40-page deep dives23:23 How to prompt: give it context24:41 Can AI run the whole investment process?26:40 Why cover 200 stocks instead of 20?Disclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  30 Years of Berkshire Meetings in 60 Minutes 14.09.2026 1h 5min

  Alex Morris is the author of Buffett and Munger Unscripted, a topic-by-topic organization of three decades of Berkshire Hathaway shareholder meetings, and he writes TSOH Investment Research, where he publishes his portfolio and discloses every change before he makes it. He spent roughly twenty years investing, most recently at a firm managing over a billion dollars, before going independent in 2021.This discussion took place live on September 10th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Alex explains how the Ted Williams "fat pitch" idea shapes a portfolio of ten to fifteen names where the largest positions run north of 10%, and why he makes only a handful of changes a year. He walks through Microsoft and Dollar Tree as investments that worked, and Comcast and Disney as theses he held too long, including what he missed on fixed wireless taking share from cable broadband. He also describes writing to Warren Buffett for permission before starting the book, what three decades of meetings revealed about how Buffett and Munger weighted capital allocation, and why he thinks their 2000 warning about the internet making American business less profitable has aged well.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction to the episode and guest02:48 The science of hitting and its analogy to investing04:28 Origin of the TSOH name and its significance05:44 Investment philosophy and portfolio construction08:40 Shift towards smaller companies and micro caps11:19 Case study: Microsoft as a formative investment13:32 Case study: Dollar Tree and strategic evolution16:57 Dealing with large gains and position management21:17 Lessons from bad investments: Comcast and Disney24:56 Understanding long-term investment horizons and patience28:31 The importance of macro perspective and market timing29:46 Writing the Warren Buffett and Charlie Munger book34:01 Charlie Munger's 2009 market insight35:21 Market outlook and macroeconomic views48:36 Misunderstood aspects of Warren Buffett's approach54:55 Lessons from Warren Buffett's early valuation methods01:00:00 Buffett's quick decision-making and industry knowledge01:01:49 Evolution of Buffett's valuation approach01:04:12 Learning from Buffett's experience with brands and acquisitions01:05:14 The value of decades of experience in investingDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Is AI Coming for Accounting and Law? $KPG.AX $AFL.AX 08.09.2026 37min

  Tristan is a tax accountant in Australia and a member of MicroCap Club. He is a long-time shareholder of Kelly Partners Group ($KPG.AX), the accounting firm rolling up small practices in Australia and now overseas, and of AF Legal Group ($AFL.AX), the listed family law firm expanding into criminal law and contested wills. He also spent part of his career working inside a Kelly Partners firm.This discussion took place live on September 3rd, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join In this episode, Tristan explains why he sees AI as another tool rather than a threat to accounting, how Kelly Partners structures its 51% partnership stakes and ten-year partner lock-ins, why the special purpose vehicle around each deal matters, and where the margin improvement in an acquired firm actually comes from. He then walks through AF Legal, the turnaround since the 2022 management change, the software implementation and one-off costs that weighed on the second half, the receivables build in the contested wills business, and what he thinks it takes to hit the AUD $50 million revenue target.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction to the episode and Tristan's background02:08 What is Kelly Partners and its focus on business advisory05:02 Workflow changes and automation at Kelly Partners08:40 Partnership structure and stakeholder management12:14 Client selection and due diligence in acquisitions15:53 Entry multiples and value creation in acquisitions17:09 Margins, productivity, and cost management18:38 Valuation multiples and future outlook20:24 Acquisition of Hello AI and strategic hires21:08 Why Kelly Partners succeeds and others fail23:22 Managing debt, enterprise value, and financial structure24:38 Overview of AFL and recent performance26:03 Project Titan and software implementation29:03 Receivables buildup and future cash flow30:04 Growth targets and margin improvement opportunities31:47 Outlook, catalysts, and risk factors33:29 AI's impact on pricing and competitive dynamics35:06 The importance of human relationships in professional services36:27 The role of the commercial team and client acquisition37:36 Summary and closing thoughts on the future of firmsDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  WidePoint Corporation (WYY): Securing the Government 31.08.2026 1h 2min

  In this Business Breakdown, David Barbato, Sergio Heiber, and Lindsay Leeds sit down with WidePoint Corporation’s (WYY) CEO Jin Kang and COO Todd Dzyak. The company was originally profiled by Sergio Heiber on April 13, 2025, at $2.82 USD per share. This discussion took place live on August 26th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Jin Kang is CEO of WidePoint Corporation (WYY), a mobility-as-a-service company that secures, manages, and monitors mobile technology assets for federal agencies and large enterprises, delivered under a SaaS model. He joined WidePoint in 2008 when it acquired the company he founded, and took over as CEO in 2017. He is joined by COO Todd Dzyak.In this business breakdown, Jin and Todd walk through the company's near-term catalysts: a roughly $50 million five-year SaaS contract with one of the three major U.S. wireless carriers, the 10-year $3.1 billion DHS CWMS 3.0 award currently sitting in a GAO protest, and prime positions on NASA SEWP VI and Navy Spiral 4. They explain how the protest process works and what happens in each outcome, why FedRAMP authorization on the ITMS platform matters competitively, and how WidePoint's PKI-based credential on a smartphone differs from Okta and standard app-based two-factor authentication. The conversation also covers federal contract pricing and margins, what actually decides a competitive award, the sales cycle for both government and commercial customers, and why the company is holding a net cash position while self-funding growth.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction01:49 Jin Kang and Todd Dzyak backgrounds04:17 Presentation begins05:10 What WidePoint does: mobility as a service06:10 Financial snapshot and valuation07:05 Catalyst 1: the ATV carrier contract07:35 Catalyst 2: the $3.1B DHS contract and protest08:10 Catalyst 3: device as a service with CDW09:00 NASA SEWP and addressable market09:50 Core competencies and differentiators11:15 FedRAMP authorization and why it matters12:40 Mobile Anchor and the 365 Analyzer14:05 Identity and access management: DoD-grade MFA on smartphones15:30 Contract vehicles and strategic partners17:50 Financial results and trends18:45 Growth strategy20:41 Q&A: moving into the commercial market, and how they differ from Okta24:18 DHS 3.0: revenue mix, headcount, and economics28:35 Pass-through revenue assumptions29:46 The GAO protest timeline and the 100-day clock31:34 Replacing the CRO and building the commercial sales team35:04 International presence, Ireland, and the CSG relationship37:01 What happens if the protest is upheld40:30 What DHS is and how protests are decided43:01 Sales cycles: government vs. commercial46:27 How their authentication differs from Google and Microsoft48:42 On-device key generation vs. keys sent over the air51:30 The biggest bottlenecks to faster growth54:02 Pricing, margins, and annual increases56:16 What wins a competitive contract57:56 Opportunities in other federal departments59:48 Net cash position and capital allocationDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing.
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  Club Conversation with Joe Kaye, Small Niches, Big Returns 24.08.2026 1h 3min

  Joe Kaye is a former actuary who now runs a concentrated separately managed account and is preparing to launch a standalone fund. Since 2023, he's compounded client capital at close to 40% a year, holding ten positions or fewer, filtered for low valuation, low debt, and a strong position in a niche market.This discussion took place live on July 17th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join In this episode, Joe explains why he moved away from special situations investing toward high-quality, low-leverage businesses, and walks through two case studies: a semiconductor-testing microcap on the Tel Aviv Stock Exchange that became his best trade, and Atento, a Brazilian BPO company whose currency hedge and a cyber attack turned it into his worst. He also talks about how he manages FOMO and confirmation bias in his process.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction and Joe's background 02:26 Transition from actuary to investing 05:21 Evolving investment strategies 08:39 Shift towards high-quality, low-leverage businesses 14:01 Managing client funds and fund structures in the UK 18:20 Concentrated portfolio and risk management 20:34 Investment philosophy and key criteria 29:28 Finding the 'Holy Grail' investments 43:03 Case study: Semiconductor business in Israel 52:36 A significant failure and lessons learned 01:05:55 The role of spirituality and yoga in investingDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  LibertyStream Infrastructure (LIB.V/VLTLF): Inside the US Lithium Tech Disruption 21.08.2026 58min

  In this Business Breakdown, David Barbato and Joel Kirkpatrick sit down with LibertyStream Infrastructure’s (LIB.V/VLTLF) CEO Alex Wylie. The company was originally profiled by John LaGourgue on October 14, 2025, at $0.40 CAD per share. This discussion took place live on August 20, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Alex Wylie is the CEO of LibertyStream Infrastructure (LIB.V/VLTLF), which extracts lithium from oilfield brine in the Permian Basin. He spent 25 years in oil and gas before starting the company in 2021 and has taken it from lab work through six generations of field equipment to a signed offtake agreement with a U.S. industrial customer.Alex walks through the three steps behind the business, pretreatment, extraction, and refining, and why the Permian's existing water infrastructure, roughly 20 million barrels a day, makes low-grade brine a workable feedstock. He discusses the Freedom One facility being built with Select Water Solutions and the plan to reach commercial production in 2027, why he frames the build-out as multiplication rather than scaling, and the company's S-1 filing and move to a U.S. exchange. He also addresses dilution, how the build-out gets financed, and what shareholders should watch for over the next six to twelve months.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Intro01:53 Beaker to Field14:15 The S-1 Filing17:14 IPO, Capital & Dilution19:05 Freedom One Timeline20:50 Scaling vs. Multiplying23:10 24-Hour Runs24:35 Select's New Mexico Push27:32 Other Water Partners29:09 Unit Cadence & Demand31:49 Building in Parallel32:53 How Offtakes Get Done35:35 Funding the Build-Out38:10 Next 6-12 Months41:47 The Extra 400 Tons44:33 Existing Shareholders45:43 Customer Prepayments47:02 Returns & Leverage48:52 Hiring in West Texas49:55 Why Not Build Bigger51:34 Green-Lighting Units 2, 3, 453:48 North Dakota54:46 Staying the Leader56:20 Board ChangesDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Update with Kelly Partners Group (KPG.AX/KPGHF): The Buy and Build Leaders in Accounting Services 17.08.2026 58min

  In this Business Breakdown, David Barbato sits down with Kelly Partners Group’s (KPG.AX/KPGHF) CEO Brett Kelly. The company was originally profiled by Adrián Hernández on April 7, 2021, at $2.01 AUD per share.This discussion took place live on August 12th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#joinBrett Kelly is the founder and CEO of Kelly+Partners Group Holdings (KPG.AX/KPGHF), the accounting group he started in 2006 and listed in 2017. It now runs 42 businesses with around 100 partners under its partner-owner-driver model, and has grown revenue from $30 million at IPO to a run rate of roughly $165 million.In this episode, Brett explains why he sees AI as an enabler for accounting firms rather than a threat, and why he has stopped publishing the group's playbook. He walks through how a list of everything he and three partners disliked about the firms they had worked in became a 204-point implementation checklist, and why leadership quality decides whether it ever gets used. He also addresses the margin loan he took during a family emergency this year and the 50% share price fall that cost him 14% of his shareholding, along with what comes next: acquiring multi-office firms, a listing outside Australia, and a Constellation-style long-dated debt structure.Share your feedback - [email protected]’s X (Twitter) - https://x.com/ValuehunteChapters00:00 – Intro01:37 – Twenty years in02:11 – AI as part of the ecosystem, not the whole ecosystem05:05 – Why they won't publish the playbook06:42 – The 30–50% of accounting work nobody ever paid for09:41 – Leadership is the X factor, not cost cutting12:44 – Humility as the trait that lets people keep learning14:25 – The 204-point checklist and the "shit list" that built it21:25 – Why professional services firms can't keep people22:46 – Being a doctor for numbers23:53 – What makes a partnership work: progress27:03 – Win-win, lose-lose28:53 – Incentives, disincentives, and personal values30:39 – The margin call: what actually happened39:17 – Valuation, shareholders, and why there's no buyback42:18 – The case for staying public43:33 – The next move: acquiring whole groups44:26 – The US listing and a Constellation-style debenture46:29 – The ten-year vision: Berkshire, LVMH, Constellation51:48 – How you build a brand in a "boring" industry53:48 – Select people who like people55:18 – Taking the model into other professions57:51 – Why he became an accountant
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  Club Conversation with Leland Roach, Hidden Value in $MAYS, $BUKS, and $EVC 16.08.2026 41min

  This discussion took place live on July 22nd, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Leland Roach writes The Value Road on Substack, where he covers nano and micro-cap value stocks he finds by screening OTC Markets for hidden asset value and near-term catalysts. He walks through his process for working down a list of OTC filings, a real estate play in J.W. Mays' Brooklyn office building, and the turnaround underway at broadcaster-turned-digital-advertiser Entravision as it grows its Smadex platform. He also covers Butler National's unusual mix of aerospace manufacturing and casino gaming, and lessons learned from past mistakes at CarParts.com and RCI Hospitality's Rick's Cabaret chain.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Intro01:30 From the factory floor to full-time investing04:54 Screening OTC markets from A to Z08:01 Why catalysts decide which stock he buys09:26 Spotting a catalyst before the market does11:41 What writing a Substack does to your investing14:25 Readers, feedback, and expectations16:38 JW Mays (MAYS): a Brooklyn building worth more than the company18:31 The risks in an asset-sale thesis20:46 When he sells21:55 Taxes versus taking the profit25:36 Butler National (BUKS): miniguns, Cessna doors, and a casino29:45 RCI Hospitality (RICK): a cash-rich melting ice cube31:22 Entravision (EVC): broadcasting deregulation and Smadex34:27 The one customer that could break the EVC thesis37:20 Mistakes: RCI and CarParts.com (PRTS)38:52 Advice for new investors: read, then be patientDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Teqnion AB (TEQ.ST): Inside a Nordic Serial Acquirer 10.08.2026 1h 6min

  In this Business Breakdown, David Barbato sits down with Teqnion's (TEQ.ST) CXO, Daniel Zhang.Daniel Zhang is CXO at Teqnion, a Swedish serial acquirer of niche industrial businesses. He joined in 2020 after five years at Bain and now runs the company's M&A, speaking with three to five business owners a week.In this episode, Daniel explains why Teqnion buys physical product companies rather than service businesses, how it pays around five times EBIT when the market pays closer to eight, and what the China sourcing office he set up has done to costs across the group. He also covers the operational problems that hit roughly ten subsidiaries, where that turnaround stands now, and how Teqnion's bonus structure penalizes managers when earnings fall.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction01:55 What makes Daniel tick04:56 Finding Teqnion as a shareholder and joining Johan Steene06:57 From a placeholder title to running M&A10:30 Bain vs. Teqnion: strategy versus implementation12:44 Why niche physical products over services15:11 The ideal company: mission-critical components with service attached17:53 Building the China sourcing office21:38 What Teqnion actually sources from China23:15 Winning over subsidiary CEOs and the savings realized so far26:19 Could Teqnion acquire in China?28:52 Buying from owners who are ready to retire30:31 Why sellers accept less than the highest bid33:47 Walking away on price35:06 Funding acquisitions and the leverage target37:01 Why subsidiaries carry no debt, unlike private equity40:02 Deal sourcing: cold calls, brokers, and direct outreach42:54 Where Teqnion's returns have come from45:33 How serial acquirers fail50:13 Where the turnaround stands now53:18 Rising margins and what Teqnion buys next55:40 The board's role and the mandate that unlocked M&A58:09 Inside the incentive structure, including negative bonuses1:01:47 CEO days, clusters, and sharing best practicesDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Club Conversation with Deiya and Dean Pernas, 30% Net CAGR Since 2017 03.08.2026 1h 1min

  This discussion took place live on July 1st, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Deiya Pernas, CFA, and Dean Pernas are co-founders of Pernas Research, an independent equity research firm whose audited returns have compounded at more than 30% annually since 2017. Deiya previously served as Deputy CIO at The Bahnsen Group, while Dean left a career in chemical engineering in 2020 to invest full-time.In this episode, they discuss why they built an audited, buy-side research model instead of following the sell-side approach, how they structure a concentrated portfolio using core, starter, and speculative position sizing, and how they think about holding cash in an expensive market. They also walk through two case studies: a contrarian long in Xometry that returned 764%, and a failed investment in sim-racing company Endor, which went bankrupt despite a pandemic-driven demand surge. The conversation closes with the rule they use to manage the risk of averaging down.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction and guest background01:31 How the firm was founded and the Pernas brothers' backgrounds03:14 The buy-side research model and its advantages04:28 Why they chose to audit their track record05:35 Dean's background in chemical engineering and investing07:05 Sources of investment ideas and workflow10:06 Team collaboration and decision-making process12:08 Ownership and decision autonomy in trading13:26 Portfolio structure and risk management16:01 Communication, transparency, and performance impact18:01 Market overreactions, AI opportunities, and sector insights25:03 Favorite themes and recent successes46:08 Lessons from failures and risk management54:03 Position sizing, averaging down, and exit strategies01:01:00 Managing ground-level research and expert calls01:05:06 Final thoughts on market opportunities and riskDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  It Checks All the Boxes, Except the One that Matters 29.07.2026 8min

  In this episode, Ian Cassel talks about how even companies that check all the boxes can still go wrong. You can also read it as an article here: ⁠https://microcapclub.com/newsletter/⁠ MicroCapClub is an exclusive forum for experienced microcap investors to share and discuss microcap companies (sub $1 billion market cap) trading on global markets. Since 2011, our members have profiled 1400+ microcap companies, 300+ have turned into multi-baggers. Investors can join our community by applying to become a member or subscribing to gain instant access. For more information, visit ⁠https://microcapclub.com/⁠ Disclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Club Conversation with Clare Flynn Levy, Helping Fund Managers Outperform 27.07.2026 1h 5min

  This discussion took place live on June 29th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Clare Flynn Levy is CEO and founder of Essentia Analytics and co-author, with Lee Freeman-Shor, of "Stock Market Maestros." She spent a decade as a fund manager, including running long/short European tech strategies, before founding Essentia to help other managers improve using behavioral data.In this episode, she explains how Essentia analyzes fund managers' historical trades by building "investment episodes" to measure hit rate and payoff ratio, and how its "nudges" system has been shown to add 160 basis points of alpha per year for clients who use it. She discusses the structural disadvantages professional fund managers face against individual investors, from benchmark mandates to fund inflows and outflows, and breaks down the "repurchase bias," where managers refuse to revisit a stock after losing money on it. She also talks about how AI is changing both her clients' processes and Essentia's own analysis.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction & Guest Background01:57 Analyzing Investment Decisions vs. Outcomes05:00 The Importance of Payoff Ratios over Hit Rates07:30 Using Behavioral "Nudges" to Improve Performance12:11 Professional Fund Managers vs. Retail Investors17:32 The Onboarding and Data Analysis Process23:06 The Danger of "Averaging Down"28:15 Assessing Manager Personality and Engagement31:41 Turning Data into Behavioral Change35:25 The Most Common Weaknesses in Investing41:24 Differentiating True Skill from Bull Market Luck43:46 Overcoming "Repurchase Bias"48:40 AI's Impact on the Investment Industry53:29 Building a Culture of Continuous Improvement58:06 Career Advice for Young Finance Professionals01:03:51 ConclusionDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  High Expectations 21.07.2026 9min

  In this episode, Ian Cassel talks about how high expectations are a killer of future returns.  can also read it as an article here: ⁠https://microcapclub.com/newsletter/⁠MicroCapClub is an exclusive forum for experienced microcap investors to share and discuss microcap companies (sub $1 billion market cap) trading on global markets. Since 2011, our members have profiled 1400+ microcap companies, 300+ have turned into multi-baggers. Investors can join our community by applying to become a member or subscribing to gain instant access. For more information, visit ⁠https://microcapclub.com/⁠Disclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Update with Paragon Advanced Labs (PALS.V): High-Speed Mineral Testing Toll Booth 20.07.2026 1h 2min

  In this Business Breakdown, David Barbato, Sergio Heiber, and Lindsay Leeds sit down with Paragon Advanced Labs (PALS.V) CEO Peter Shippen.This discussion took place live on July 9th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Peter Shippen is founder and CEO of Paragon Advanced Labs (PALS.V), which operates a hub-and-spoke network of mining assay labs using photon assay, a rapid gold, silver, and copper testing technology from Australia's Chrysos. Co-hosts Sergio Heiber and Lindsay Leeds sit down with Peter for a follow-up conversation covering capacity utilization economics, the McEwen Inc. partnership and shareholder base, pricing versus traditional fire assay, the buildout of sample prep sites in Timmins, Thunder Bay, and Coeur d'Alene, and Paragon's path to cash flow and a U.S. listing.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction and Participant Welcome00:36 CEO Peter Shippen's Background and Company Overview02:08 Paragon's Technology and Market Positioning04:04 Photon Assay: Benefits and Industry Impact06:58 Industry Bottlenecks and Paragon's Solutions09:16 Operational Setup and Current Capacity12:33 Market Expansion and Supply Constraints15:22 Financial Outlook and Cash Flow Potential17:14 Team Expansion and Leadership19:21 Next 12 Months: Capacity and Growth Milestones21:43 Geographic Strategy and Hub Model25:29 Pricing Strategy and Customer Negotiations29:07 Financial Structure and Capital Deployment31:43 Sales and Marketing and Operational Efficiency33:43 Growth Strategy: Slow vs. Fast Deployment36:17 Fire Assay Business and Future Outlook38:03 Utilization Rates and Profitability41:07 Expansion Plans and Customer Demand44:16 Partnerships, Contracts, and Mexico Operations46:34 OTC Listing and Market Visibility47:07 Key Talent and Leadership Recruitment50:22 Global Lab Wait Times and Industry Trends52:08 Geochem Services and Revenue Contribution53:46 CapEx, Capital Raising, and Shareholder Dilution55:32 Shareholder Float and Industry Market Size56:32 Industry Spending and Market Opportunity57:46 Balance Sheet Liabilities and IFRS Impact59:05 ISO Certification and Industry Standards1:00:54 Path to Positive Cash Flow and Future OutlookDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Playboy (PLBY): Cultural Icon, Back to Its Licensing Roots 16.07.2026 1h 17min

  In this Business Breakdown, David Barbato and “uzocapital” sit down with Playboy’s (PLBY) CEO Ben Kohn. This discussion took place live on July 8th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Ben Kohn is CEO of Playboy, Inc. (PLBY), a role he's held since 2018 after two decades in private equity, including as a managing partner at Rizvi Traverse, the firm that took Playboy private in 2011.In this conversation, Kohn breaks down Playboy's shift to an asset-light licensing model and the economics behind its two largest deals: the partnership with Byborg Enterprises, which turned a $2 million adult-content business into $20 million a year in guaranteed royalties, and the agreement with UTG to sell up to 50% of Playboy's China IP for $122 million over eight years. He details the company's debt paydown from $220 million to $108 million, the new paid-voting Playmate franchise and subscription business, plans for a Playboy Club in Miami Beach, and the future of Honey Birdette within the portfolio. Kohn also discusses lessons from Playboy's SPAC-era overexpansion and how that's shaped the company's current strategy.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction to Playboy's Transformation04:40 Ben Kohn's Background and Playboy's Legacy07:36 Monetizing the Playboy Brand10:19 Financial Strategies and Debt Management13:33 Content as a Revenue Driver16:27 The Playmate Franchise and New Business Ventures19:38 Licensing and Strategic Partnerships22:17 Hospitality and Future Plans26:08 Honey Birdette and Brand Integration29:04 Audience Engagement and Voting Contests31:52 Future Growth and Market Positioning43:29 Navigating Business Complexity and Debt Management47:14 Strategic Growth and Store Expansion48:26 Shareholder Returns and Buyback Strategies51:56 Licensing Deals and Brand Partnerships57:55 Innovative Revenue Streams and the Playmate Initiative01:02:45 Learning from Mistakes and Future Strategies01:13:03 The Future of the Playboy BrandDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Same Process. Different Outcomes. 15.07.2026 10min

  In this episode, Ian Cassel talks about the cruel reality of stock picking where the same process produces different outcomes. You can also read it as an article here: https://microcapclub.com/newsletter/MicroCapClub is an exclusive forum for experienced microcap investors to share and discuss microcap companies (sub $1 billion market cap) trading on global markets. Since 2011, our members have profiled 1400+ microcap companies, 300+ have turned into multi-baggers. Investors can join our community by applying to become a member or subscribing to gain instant access. For more information, visit https://microcapclub.com/ Disclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Renoworks Software (RW.V / ROWKF): The Visualization Layer for Home Remodeling 13.07.2026 1h 16min

  In this Business Breakdown, David Barbato and Joshua Cohen sit down with Renoworks Software’s (RW.V / ROWKF) CEO Doug Vickerson.This discussion took place live on July 6th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Doug Vickerson is CEO of Renoworks Software (RW.V / ROWKF), a role he's held for two decades at the company, which builds visualization software for the building products industry, serving manufacturers, distributors, contractors, and homeowners.In this conversation, Vickerson discusses Renoworks' shift to an AI-powered platform and its push to convert one-time revenue into recurring revenue, which grew 36% year-over-year in the first quarter of 2026 on roughly 80% gross margins. He covers the new platform launching to customers in August, the pricing shift toward licensing and usage-based tokens, and new growth areas opened up by AI, including measurements, estimating, interior design, and decking, categories the company had previously avoided. Vickerson also addresses the company's capital structure and insider ownership, its relationship with Google around Street View data, and why he believes 20 years of manufacturer relationships and product data make the business difficult to replicate.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction to Renoworks and Leadership Background04:21 AI-Powered Home Remodeling: Renoworks' Vision08:10 The Role of AI in the Building Products Industry11:31 Challenges and Opportunities with AI Integration16:20 Customer Engagement and Market Opportunities20:59 Expanding Total Addressable Market through AI25:42 Financial Performance and Future Growth Strategies27:04 Q&A: Insights on Market Dynamics and Product Offerings38:25 The Importance of Leads in Home Design41:57 Enhancing Offerings and Customer Engagement46:07 Revenue Growth and Business Model Evolution51:35 AI's Role in Competitive Advantage55:23 Exploring Partnerships and Market Potential01:03:56 Understanding the Competitive Landscape01:10:08 The Unique Value Proposition of RenoworksDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Club Conversation with Sean Westropp, Deep Sail Capital's Microcap Playbook 29.06.2026 1h 2min

  Sean Westropp is the CIO of Deep Sail Capital, a long/short fund focused on growth, with most of the long book in microcaps and the balance in established mid-cap growth. He launched the fund to outside investors in 2022, after running a predecessor vehicle that began as a value strategy and pivoted to growth in 2017.This discussion took place live on May 7th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join In this episode, Sean walks through the four-pillar framework he uses to evaluate microcap management teams, the weekly forward-IRR ranking he runs across his ~500-name investable universe, and why he thinks shorting industry bubbles works better than shorting individual names. He also breaks down three names on his radar, Westell Technologies, AmpliTech Group, and SuperCom, and uses Kraken Robotics as a case study for riding a microcap winner from a $150 million market cap to mid-cap scale.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction to Sean Westropp and Deep Sail Capital02:39 Sean's Journey into Investing06:28 Investment Strategy: Growth vs. Value10:30 The Importance of Management in Micro Cap Investing14:15 Navigating Growth Phases in Micro Caps18:41 Managing a Diverse Investment Universe24:48 Short Selling: Strategies and Challenges31:24 Technical Analysis in Short Selling35:32 Exploring Westell Technologies44:12 Diving into AmpliTech Group57:11 Understanding SuperCom's Growth PotentialDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  ADF Group (DRX.TO): The Backbone of America's Biggest Builds 25.06.2026 1h 12min

  In this Business Breakdown, David Barbato and co-host Sébastien Charland, President of Agave Capital, sit down with ADF Group’s (DRX.TO) CFO Jean-François Boursier. The company was originally profiled by "Flipper" on February 16, 2021, at $1.72 CAD per share, representing a gain of 735% since then.This discussion took place live on June 18th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join Jean-François Boursier is the CFO of ADF Group, a Quebec-based fabricator of complex steel structures with plants in Terrebonne, Great Falls, Montana, and the Lac-Saint-Jean region. After nearly 16 years at ADF, he's set to retire at the end of 2026, and this Business Breakdown covers where the company stands heading into that transition.✉️ Share your feedback - [email protected]✉️ David’s X (Twitter) - https://x.com/Valuehunte Chapters00:00 Introduction to ADF Group and Leadership03:31 Overview of ADF Group's History and Operations14:01 Financial Highlights and Market Positioning22:33 Future Growth and Strategic Acquisitions28:32 Q&A Session: Backlog and Tariff Impacts40:40 Understanding the Family Buyback Dynamics51:39 Leadership Transition and Future Outlook57:17 Market Demand and Strategic Positioning01:07:57 Consolidation Opportunities in the IndustryDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.
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  Obsession by Ian Cassel 23.06.2026 15min

  Ian Cassel gives the opening keynote at Planet MicroCap Las Vegas 2026 Powered by MicroCapClub. Not part of the MicroCapClub community? Join Us https://microcapclub.com/join-now/Planet Microcap hosts the highest quality microcap in-person events in North America. The mission is to bring the best microcap investors, companies, and allocators together to gather, connect, and grow. https://planetmicrocap.comDisclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.