Clay is joined by Ian Cassel to discuss multi-bagger first principles, what he’s learned from investor Tony Deden and biases he has had to overcome to continue improving as an investor.

Ian is a full-time microcap investor and CIO of Intelligent Fanatics Capital Management. He is the founder of MicroCapClub.com and co-founder of the IntelligentFanatics.com.

IN THIS EPISODE YOU’LL LEARN:
0:00:00 - Intro
0:00:50 - A 2023 overview of Ian’s fund.
0:04:10 - Ian’s investment journaling and reflection process.
0:09:07 - What Ian has learned from managing a fund for over 5 years.
0:17:00 - How we can discover who we are as an investor.
0:24:27 - What Ian learned from Anthony Deden.
0:28:36 - The multi-bagger first principles.
0:36:19 - A few case studies on multi-baggers.
0:53:11 - Why high insider ownership doesn’t correlate with stocks that outperform.
- How attribution bias influences investor behavior.
0:59:04 - Ian’s experience on the saying, “Risk is what you don’t see.”
1:02:08 - How Ian decides whether he should average down in a position or not.

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▶️ RELATED EPISODES:
- How to Find 'Lightning in a Bottle' Businesses | Microcap Investing w/ Ian Cassel:    • How to Find 'Lightning in a Bottle' B...  
- Why Microcaps Are Outperforming w/ Ian Cassel:    • Why Microcaps Are Outperforming w/ Ia...  
- How Copart's Stock Compounded by 21% Since 1994 | Junk to Gold by Willis Johnson:    • How Copart's Stock Compounded by 21% ...  
- A Decade Study of Global Top-Performing Companies | Global Outperformers w/ Dede Eyesan:    • A Decade Study of Global Top-Performi...  

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📖  BOOKS MENTIONED:
- Intelligent Fanatics by Sean Iddings & Ian Cassel: https://amzn.to/4897Jlr
- 100 Baggers by Chris Mayer: https://amzn.to/3upQrTf
- Same as Ever by Morgan Housel: https://amzn.to/3S4ceYu

Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀

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