New Article Buffett started as a short-term cigar butt stock trader. He then started taking control of companies. He then realized it’s better to take control of companies of higher quality, so he doesn’t have to fix or sell them. The point is he kept evolving, pushing out his circle of competence. If he stayed a cigar butt investor, he would have become a relic of the past by age 40 instead of a legend. microcapclub.com/keep-evolvi…

New Article - From Speculation to Investment How microcap companies become higher quality as they grow microcapclub.com/from-specul…

📗Stock Picker is officially published! lnk.to/stockpicker The world didn't need another "invest like me" or instruction manual for successful investing. What time has proven is all great investors and stock pickers invest differently. In fact, that is what makes them great. I wrote this book to inspire and motivate you to invest like you. To do it your own way. That is my story and it can be your story too. I also wrote the book to educate the masses on microcap investing, a space that has been largely forgotten by most of the financial industry. My mission is to pull quality investors, companies, stakeholders into microcap. That is how we make a positive impact on this investment class. Help me spread the word. Tell a friend. Leave a positive review. Thank you. 🙏

I first met John Swallow of $IDR in 2005 when he was building another public company. Both of his sons were young children. I’ve now attended both of their weddings. Hard to put into words how fulfilling it has been on an investment and personal level.

New Article I’ve been a stock picker for over 20 years, and it still amazes me how a basket of asymmetric opportunities that are uncorrelated but filtered through a similar mental model can have completely different outcomes. Some companies in the portfolio make winning looks easy, while others make winning look hard. The winners are exhilarating. You buy a position and it’s like the market gods immediately bless the company. The stock never falls below your cost basis. The management executes. Earnings beat expectations. Everything imaginable and unimaginable catalyzes the business and the story. An embarrassment of riches rains upon your portfolio. Everything goes right. The losers are confounding. The setup looks identical to the winner, but the market gods curse the company. The business stubs it’s toe the first quarter you own it. Management fumbles the earnings call. Non-cash charges make the bottom line look even worse. External threats emerge. What looked cheap, now looks expensive. Everything goes wrong. microcapclub.com/same-proces…

Here is a talk I gave last week at @PlanetMicroCap titled "Obsession". Hope you enjoy it. microcapclub.com/obsession/

This week I wrote about how successful microcap investing is like being the coach of a successful NBA franchise. The team/portfolio that made you made money five years ago is a historical artifact. The team/portfolio that keeps you wealthy is the one you have the courage to keep rebuilding. microcapclub.com/the-coach-w…

New Article The portfolio that made you made money five years ago is a historical artifact. The portfolio that keeps you wealthy is the one you have the courage to keep rebuilding. microcapclub.com/the-coach-w…

Here is a new presentation. What three centuries of Norse raiders teach us about microcap investing. microcapclub.com/we-are-viki…

New Article My high school golf coach was 82 years old. On the day I made the varsity team, he walked over to me before our practice round and said, "Ian, I'm going to play with you today. And I'm going to play one-handed. I bet I can beat you." microcapclub.com/investing-i…

New Article - The Last Moat As AI tools become more widespread and more capable, the informational playing field for for this data flattens. The alpha must go somewhere, and it migrates to wherever commoditization has not arrived yet. microcapclub.com/the-last-mo…

New Article John LeFrere, an analyst hired by Michael Steinhardt in the 1970s, recalls his first weeks on the job; he visited IBM and returned convinced that its profits were headed upward. LeFrere recommended buying IBM stock ahead of that Friday's quarterly results, but Steinhardt pushed back. He had been watching IBM splutter about aimlessly on the stock ticker, and he had a black feeling in his gut that the stock was going nowhere. “Mike, I think you're wrong,” LeFrere said. It took courage to contradict Steinhardt, but LeFrere had a strong build and figured he could bench him. “I hate the pig,” said Steinhardt. “Mike, I don't care how it looks on the tape. The results are going to be good and the stock's going up.” Steinhardt's contrarian radar flickered. “How much you want to buy then?” “How about ten thousand?” LeFrere ventured, calculating that, with IBM trading at $365, owning three and a half million dollars' worth of one stock was about the maximum conceivable. Steinhardt hit a button and ordered his trader to buy 25,000 IBM immediately. “Mike, I said ten thousand,” LeFrere said anxiously. “How convinced are you of your fuckin' opinion?” Steinhardt barked. “I'm very convinced.” “You better be right,” Steinhardt said grimly. He hit the button again and bought another 25,000. That exchange left Steinhardt with some $18 million worth of IBM, representing perhaps a quarter of his capital. It was a hefty concentration of risk in one stock, five times the size that LeFrere had recommended. But when IBM's results came out at the end of the week, the stock shot up 20 points, yielding an instant profit of $1 million. LeFrere had survived his rite of passage. microcapclub.com/are-you-an-…

New Article - Find Your Swing Warren Buffett invests his way while Walter Schloss did it another way. Carl Ichan does it his way while Peter Lynch did it another way. David Tepper does it his way while Marc Andreessen does it another. Some are long term. Some are short term. Some are value investors. Some are growth investors. Some are concentrated. Some are diversified. Some are activists. Some are passivists. Some bet on change. Some bet on things that won’t change. The greatest investors ever have opposing strategies. Even within the world of “value investing” alone, there are hundreds of successful iterations. microcapclub.com/find-your-s…

New Article There is a massive difference between taking a large initial position and allowing a position to become large. Few investors understand this distinction. microcapclub.com/high-convic…

Working on the book this morning - available September 2026 microcapclub.com/stock-picke…

Coming later this summer ... Pre-order here 🙏 microcapclub.com/stock-picke…

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