Top 50 Microcap List: Brandon Chow
The next feature of our Top 50 Micro-cap Manager list is Brandon Chow out of Toronto, Canada. Brandon received a Bachelor of Science in General Studies at Wilfrid Laurier University in 2019, making him the youngest of our Top 50 so far. Additionally, Brandon is an Espace MicroCaps contributor and Director of Investor relations at Xebec Adsorption Inc.
To read more about Brandon Click Here
The Premier Virtual Event in MicroCap Finance
SNN Network brings together the most promising companies and the top dealmakers in MicroCap Finance for three (3) days of company presentations, 1x1 meetings and educational panels in The Premier Virtual Event in MicroCap Finance. Register for the virtual event here.
The Important and The Knowable
The macro environment gets a lot of press. Inflation, employment, interest rates, the Fed, GDP…. Name your macro factor and there is likely someone on T.V. making a forecast about it—right now, this minute, somewhere. It may be nice to know where these factors are heading before others, but is it possible?
This past week, investor Howard Marks wrote a memo on the topic. He invoked Warren Buffett’s advice that:
“For a piece of information to be desirable, it has to satisfy two criteria: it has to be important, and it has to be knowable.”
Marks also gave a rundown of all the important factors worth thinking about and where they stand today. He also advised that while one may have an opinion on the macro future, betting heavily on that opinion is something entirely different—and far riskier.
So how do the great investors do it? If macro factors are as important as they are to future returns, how does one invest not knowing where they will be in five or ten years? The answer lies in observing the present, thinking about probable outcomes, and only acting when the odds are clearly in one’s favor. Great investors pay attention to when they can know. As Tom Russo—Partner at Gardner Russo & Gardner and a great investor himself—once said:
“What I have observed about the really great investors is the simple decisions that they end up having to make by virtue of focusing on what’s important and what’s unknowable.”
Congrats to Premium Members
Congrats to Premium Members Jon Pritchett and Hank Durslag on the launch of BOA. BOA is breakthrough technology. Its high-powered blast uses oxygen to propel atomized nutrients into your body. BOA’s Endure replenishes sodium, which can help you hydrate up to ten times faster. When you’re competing or training at maximum output, and rapidly losing sodium, fast matters. To learn more click here.
This week’s newsletter is sponsored by:
Fresh Vine Wines
Fresh Vine Wine founded by Nina Dobrev and Julianne Hough was created to find balance between living a healthy lifestyle and enjoying delicious wine. Fresh Vine Wine’s collection uses a natural winemaking process with high and low fermentable sugar grapes hand selected from Napa Valley. These premium quality wines are low calorie, low carb, low sugar and gluten free.
In Case You Missed It…
USA TRIATHLON ANNOUNCES PARTNERSHIP WITH BOA NUTRITION, INC.
July’s strong jobs report could prepare the Federal Reserve to dial back its bond-buying program
Berkshire Hathaway Inc. News Release
Mark Lavery on why he wants to buy Cambria Automobiles, agency sales and ‘unprecedented’ car sales [Note: Many investors feel that Lavery and the rest of the management team are trying to take the company private for far too low of a price. For more on the business, watch our Lunch at the Club Presentation by Christian Olesen back in March.]
Readings, Videos, and Podcasts
Morgan Housel on Seeking Simplicity in a Complex World (video)
Farnam Street Investments’ July 2021 Letter to Investors [The letter discusses insurance, and pairs well with our Co/Report on Learning Insurance.]
Yet Another Value Podcast: Sean Iddings on the bull case for $EXPI
Broyhill Book Club: Summer 2021
Microcap Updates
If you are interested in seeing weekly microcap updates join our Premium Membership! Premium members have access to a portal where we post these updates twice a week. We are tracking:
Insider buys
Election of directors
Share buybacks
Appointment of certain officers
Appointment of principal officers
Compensatory arrangements of certain officers
Election of directors
Departure of directors or principal officers
If you have not already upgraded your membership…
Avenel Financial Group, a merchant banking and advisory firm located in Charlotte, NC, launched a new business venture called the Co/Investor Club. The Co/Investor Club is a community of value-oriented investors that collaborate on investment opportunities and ideas. You are receiving this newsletter because you are a Free or Premium Member of the Co/Investor Club!
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