Top 50 Microcap Managers: Paul Andreola and Trevor Treweeke
This week is a two for one deal… both Paul Andreola and Trevor Treweeke from Smallcap Discoveries are in the Top 50 Microcap Manager List.
Smallcap Discoveries is a research firm run by a former broker, entrepreneur, and MicroCapClub contributor Paul Andreola and Analyst/Investor Trevor Treweeke. These gentlemen are great researchers and experienced professional investors whose insights and ideas in the small and micro-cap space are invaluable. Any investor who is wise enough to subscribe to them will undoubtedly derive tremendous value from their work.
Read our feature on Paul and Trevor here
CO/nversations Podcast
We are excited to announce our podcast is available to listen on Apple Music and Spotify!
Success doesn’t come alone; it comes with others. Who influenced your life to shape you into the person you are today? What inspires and motivates you? Join hosts Mike Pruitt and Sam DiFiore as they share casual conversations with guests about success stories.
Listen to our CO/nversations with Joe Moglia and Chris Lahiji in the first two episodes below.
CO/nversations on Apple Podcasts
CO/nversations on Spotify
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Bubbles and Psychology
Housing is on fire. Prices are up. Realtors and mortgage brokers are doing well. Contractors and builders are busy, if they can find enough people to hire to perform the work on hand. For those that were around 15 years ago, it seems like history may be rhyming yet again. But is this a bubble destined to burst, or a result of supply, demand, and oh so low rates of interest?
In a recent interview, Jeremy Grantham, renowned bubble-watcher at the investment firm GMO, stated:
“The housing in most of the world, and certainly in America, as a multiple of family income, has recently overtaken the Great Housing Bubble of 2006, 2007, which in itself is quite amazing. When that deflated it took away $8 trillion of perceived wealth.”
Grantham is often a little early with his calls, but it’s hard to argue with his foresight and timing about the 2006-2007 housing bubble and bust, or his call to go long equities in the aftermath in March 2009. If it is indeed a bubble, where will the pain be felt? The banks seem to be in better shape than before, but the debt involved in lending money tied to an asset that deflates tends to create problems, somewhere.
While we carry no opinion as to how the current frenzy will end, good or bad, we do know that psychology is a big driver of markets. The American public, especially, must feel good about the value of their houses and their investment portfolios. There wasn’t a major event that caused the psychological shift in the stock market in 2000, and the 2006-2007 housing bust had some warning signs that were ignored before things really turned south.
There are always good, cheap stocks somewhere. It just may take a little more sleuthing to find them these days. For more on how we are trying to help investors in this process, see our Lunch at the Club link below.
A Good Track Record
While we’re still in the early innings of many of the investment theses to play out, we’ve already seen some nice appreciation in the stock prices of our past Lunch at the Club presentations.
Shoutout to Walter Hopkins for an insightful investment presentation last week. If you are interested in attending monthly investment presentations from quality investors, or viewing past presentations, sign up for our Premium Membership.
In Case You Missed It…
Keeping it Simple Ep. 4: Understanding and Debating Inflation
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Yet Another Value Podcast: Mike Mitchell on his big bet on lumber and GreenFirst $ICLTF
The Best Time-Management Advice Is Depressing But Liberating
Cathie Wood is wrong about lack of market bubble, says fund manager
Microcap Updates
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Share buybacks
Appointment of certain officers
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Election of directors
Departure of directors or principal officers
If you have not already upgraded your membership…
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