Planet MicroCap Podcast | MicroCap Investing Strategies

In this episode of the Planet MicroCap Podcast, I spoke with Sebastian Krog, Founder & Editor of Treasure Hunting Newsletter on Substack, to unpack the evolution of his process from stock picker to true portfolio manager. We dive into the hard lessons from recent portfolio companies, how “thesis drift” and position sizing can make or break returns, and why he’s shifted toward more predictable, profitable businesses over speculative turnarounds.

Sebastian also shares how industry dynamics often matter more than management, how he’s using AI to uncover themes, and why in microcaps, what you do after you buy the stock is often the difference between winning and losing. We mention several companies and sectors during this conversation, and I’m not a shareholder in any of them.

For more information about Treasure Hunting Newsletter on Substack, please visit: https://treasure-hunting.co/ 

Chapters:

00:00 Introduction and Background
02:03 Investment Philosophy Evolution
05:28 Case Study: Innovative Food Holdings
11:16 Lessons Learned from Investment Mistakes
17:15 Navigating Management Conversations
22:27 Evaluating Turnaround Situations
25:49 Market Dynamics and Company Performance
27:40 Portfolio Construction and Position Management
30:23 Identifying Compounders and Investment Styles
33:18 Idea Generation and Industry Analysis
36:49 Holding Periods and Investment Expectations
41:20 Managing Behavioral Biases in Investing
46:10 Future Insights on Microcap Opportunities

Planet Microcap hosts the highest quality in-person microcap events in North America. The mission is to bring the best microcap investors, companies, and allocators together to gather, connect, and grow.; visit https://planetmicrocap.com/ to learn more about our Las Vegas and Toronto events.

This presentation is for informational purposes only and should not be construed as a recommendation to purchase or sell any security referenced herein. Planet MicroCap Holdings LLC and MicroCapClub LLC (collectively, “we” or “our”) are not licensed brokers nor registered investment advisors. We, our partners, contractors, members, subscribers, guests, or affiliates may or may not hold positions in one or more of the securities mentioned in this presentation and may trade in such securities at any time. We may have received cash compensation from one or more participants for presenting at past, present, or future events. We recommend you consult a licensed investment adviser, broker, or legal counsel before purchasing or selling any securities referenced in this presentation.

In this episode of the Planet MicroCap Podcast, I spoke with Michael Fritzell, Editor of Asian Century Stocks Newsletter. We break down the evolving opportunity set across Asia - from China’s state-driven economic shift and ongoing property fallout to the corporate governance unlocks happening in Japan and South Korea. We also dig into why Southeast Asia may be one of the most overlooked pockets of value globally, with “old economy” businesses trading at compelling valuations while capital chases AI elsewhere.

The conversation highlights where inefficiencies exist today, how to think about insider alignment and currency tailwinds, and the key risks - from VIE structures to related-party transactions - that investors need to navigate when hunting for microcap alpha across the region. We mention several companies and sectors during this conversation, and I’m not a shareholder in any of them.

For more information about Asian Century Stocks, please visit: https://www.asiancenturystocks.com/

Chapters:

00:00 Introduction and Context of the Conversation
01:10 China's Economic Landscape: Opportunities and Risks
11:58 Shifts in Investment Focus: Southeast Asia and Beyond
18:21 Japan's Market Dynamics and Corporate Governance Reforms
24:21 South Korea: Emerging Opportunities and Corporate Changes
27:47 Market Sentiment: The Shift Towards US Stocks
31:56 Inefficiencies in Asian Microcaps vs. US Microcaps
36:02 Red Flags in Asian Investments
38:52 The Concept of Asian Companies Listing Abroad
44:43 Final Thoughts: Finding Value in Overlooked Markets

Planet Microcap hosts the highest quality in-person microcap events in North America. The mission is to bring the best microcap investors, companies, and allocators together to gather, connect, and grow.; visit https://planetmicrocap.com/ to learn more about our Las Vegas and Toronto events.

This presentation is for informational purposes only and should not be construed as a recommendation to purchase or sell any security referenced herein. Planet MicroCap Holdings LLC and MicroCapClub LLC (collectively, “we” or “our”) are not licensed brokers nor registered investment advisors. We, our partners, contractors, members, subscribers, guests, or affiliates may or may not hold positions in one or more of the securities mentioned in this presentation and may trade in such securities at any time. We may have received cash compensation from one or more participants for presenting at past, present, or future events. We recommend you consult a licensed investment adviser, broker, or legal counsel before purchasing or selling any securities referenced in this presentation.

In this episode of the Planet MicroCap Podcast, I spoke with Travis Prentice, CIO of Informed Momentum Company, to break down what he’s seeing beneath the surface of today’s market—and where capital is actually flowing next. We dive into the concept of “Informed Momentum,” where price meets fundamentals, and why a faster, more disciplined approach is critical in a market increasingly driven by AI, infrastructure, and a shift back to the physical economy.

Travis shares why breadth matters more than ever in capturing outsized winners, how to spot high-quality momentum versus noise, and why microcaps—after a long stretch of underperformance—may be setting up for a meaningful turn. This is a conversation focused on process, discipline, and staying aligned with what the market is doing—not what you think it should do. We mention several companies and sectors during this conversation, and I’m not a shareholder in any of them. 

For more information about Informed Momentum Company, please visit: https://www.informedmomentum.com/ 

Chapters:

00:00 Welcome to Planet Micro Cap
02:33 Evolving Momentum Strategies
05:31 The Importance of Breadth in Momentum
07:21 Current Momentum Trends in Micro Caps
09:27 Understanding Momentum vs. Narrative
13:56 Challenges of Momentum in Micro Caps
16:22 AI and Structural Shifts in the Market
20:21 Comparing Current Changes to Past Disruptions
23:02 The Changing Landscape of Private Equity and Credit
28:18 Momentum Strategies in Micro Cap Investing
38:31 Navigating Trends and Exits in Momentum Investing

Planet Microcap hosts the highest quality in-person microcap events in North America. The mission is to bring the best microcap investors, companies, and allocators together to gather, connect, and grow.; visit https://planetmicrocap.com/ to learn more about our Las Vegas and Toronto events.

This presentation is for informational purposes only and should not be construed as a recommendation to purchase or sell any security referenced herein. Planet MicroCap Holdings LLC and MicroCapClub LLC (collectively, “we” or “our”) are not licensed brokers nor registered investment advisors. We, our partners, contractors, members, subscribers, guests, or affiliates may or may not hold positions in one or more of the securities mentioned in this presentation and may trade in such securities at any time. We may have received cash compensation from one or more participants for presenting at past, present, or future events. We recommend you consult a licensed investment adviser, broker, or legal counsel before purchasing or selling any securities referenced in this presentation.

In this episode of the Planet MicroCap Podcast, we dive into the Diamond Hill Micro Cap Strategy with Aaron Monroe, Tyler Ventura, and John Loesch to break down how they’re finding alpha in one of the most underfollowed parts of the market. With a concentrated, long-term approach and a “three heads are better than one” framework, they focus on simple, durable businesses with strong balance sheets and aligned management.

We dig into why illiquidity and lack of coverage are features—not bugs—in microcaps, how they build positions through their “graduation model,” and why “boring but beautiful” companies can quietly compound capital over time. We mention several companies and sectors during this conversation, and I’m not a shareholder in any of them.

For more information about Diamond Hill MicroCap Strategy, please visit: https://www.diamond-hill.com/investment-strategies/us-equity/micro-cap/separate-account/

Chapters: 

00:00 Introduction to the Diamond Hill Microcap Team
02:31 Investor Origin Stories
07:59 Investment Philosophy in Micro Cap
12:01 Exploiting Market Inefficiencies
16:23 Identifying Misunderstood Micro Caps
22:35 Ideal Investment Setup
27:04 Managing Group Think in Investment Decisions
28:28 Understanding Conviction in Investment Strategies
31:08 Evaluating Management in Micro Cap Companies
34:03 Identifying Change Agents in Management
38:12 Structural Market Insights and Opportunities
42:27 Behavioral Changes in Investing
46:51 Position Sizing and Risk Management
51:47 Lessons Learned from Micro Cap Investing
57:11 Building a Sustainable Edge in Micro Cap Investing

Planet Microcap hosts the highest quality in-person microcap events in North America. The mission is to bring the best microcap investors, companies, and allocators together to gather, connect, and grow.; visit https://planetmicrocap.com/ to learn more about our Las Vegas and Toronto events.

This presentation is for informational purposes only and should not be construed as a recommendation to purchase or sell any security referenced herein. Planet MicroCap Holdings LLC and MicroCapClub LLC (collectively, “we” or “our”) are not licensed brokers nor registered investment advisors. We, our partners, contractors, members, subscribers, guests, or affiliates may or may not hold positions in one or more of the securities mentioned in this presentation and may trade in such securities at any time. We may have received cash compensation from one or more participants for presenting at past, present, or future events. We recommend you consult a licensed investment adviser, broker, or legal counsel before purchasing or selling any securities referenced in this presentation.

In this episode of the Planet MicroCap Podcast, I’m joined by Andrew Pogue, Founder of the Underlying Value Substack, to break down his differentiated approach to microcap investing that blends deep fundamental work with an operator’s mindset and the use of AI. Andrew walks us through how he evaluates businesses with a sharp focus on management quality and capital allocation, why he sees massive opportunity outside the U.S. in the Nordics, South Africa, Canada and Australia, and how he leverages AI as a high-powered research assistant to uncover overlooked ideas globally.

We also dive into his disciplined approach to position sizing, identifying real catalysts, spotting red flags like “consulting-speak,” and why the ability to talk yourself out of an investment may be one of the most important skills for long-term success in microcaps. We mention several companies and sectors during this conversation, and I’m not a shareholder in any of them.

For more information about the Underlying Value Substack, please visit: https://underlyingvalue.substack.com/

Chapters:

00:00 Diving into Micro Cap Investments
02:50 Understanding the Micro Cap Ecosystem
05:35 Investment Discovery Process
08:44 Catalysts for Investment Opportunities
11:37 Exploring International Markets: Focus on South Africa
16:45 Exploring South Africa's Investment Landscape
17:58 Navigating Investor Psychology and Promotional Cycles
20:28 Understanding Value and Catalysts in Investing
23:28 Lessons from Microcap Investing Experiences
26:41 Evaluating Management and Company Insights
30:41 Strategies for Selling and Position Management
35:14 Key Lessons from Business Ownership
37:58 Advice for New Investors in Microcaps

Planet Microcap hosts the highest quality in-person microcap events in North America. The mission is to bring the best microcap investors, companies, and allocators together to gather, connect, and grow.; visit https://planetmicrocap.com/ to learn more about our Las Vegas and Toronto events.

This presentation is for informational purposes only and should not be construed as a recommendation to purchase or sell any security referenced herein. Planet MicroCap Holdings LLC and MicroCapClub LLC (collectively, “we” or “our”) are not licensed brokers nor registered investment advisors. We, our partners, contractors, members, subscribers, guests, or affiliates may or may not hold positions in one or more of the securities mentioned in this presentation and may trade in such securities at any time. We may have received cash compensation from one or more participants for presenting at past, present, or future events. We recommend you consult a licensed investment adviser, broker, or legal counsel before purchasing or selling any securities referenced in this presentation.