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Ian Cassel Profile picture
@iancassel
Dec 8, 2019 • 4 tweets • 3 min read • Read on X
#FollowSunday

@Greenbackd - Just a great person - love his podcast. Extremely talented and kind is a vicious combination.

@jposhaughnessy - Not only the Godfather of FinTwit but an amazing communicator.

@morganhousel - Yeah yeah a great writer - but extremely generous.
@BrentBeshore - Everyone in PE now trying to do what he does. The best make it look easy when it is insanely difficult.

@plountzis - Extremely generous. Never says no to helping anyone. Wicked smart - He remembers my kids names and ages. I don't even remember my kids ages :)
@Sanjay__Bakshi - When we had our first @MicroCapClub Summit he flew across the world to speak at it. Enough said.🙏

@saurabh_madaan - He very well could be the nicest person I ever met. I want to ask his wife if he's ever gotten angry. I won't believe her if she says yes.
@chriswmayer - 100-Baggers has done more good than most books on investing. It's forced investors to want more out of their investments, and when you find them, do less.

@joshtarasoff - A brilliant investor that young managers should emulate.

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More from @iancassel

Ian Cassel Profile picture
May 20, 2023
One of Jesse Livermore's favorite books was “Speculation As A Fine Art and Thoughts On Life” by Dickson Watts (1880)

Dickson Watts was at the height of his powers as President of the New York Cotton Exchange when Jesse Livermore was born. twitter.com/i/web/status/1… Image
“You have opened the tomb of a great man. His name, his hooks and his exchange have almost vanished... there is not a copy in the Library of Congress or The New York Public Library. This was one of the few books written on speculation by a successful speculator.”
"The revival of Edwin Lefevre’s book, REMINISCENCES OF A STOCK OPERATOR, has renewed interest in the book because “Old Dickson” wrote the bible for successful speculators."

Below is an excerpt of the book. You can’t help but think how little has changed in 140 years.

👇👇
Read 9 tweets
Ian Cassel Profile picture
May 17, 2023
I get asked quite often:

How do you research a microcap stock?

This is a great question. It is a difficult question to answer. Microcaps are much different than largecaps. But @michael2017l and I were up for the challenge. twitter.com/i/web/status/1… Image
Many of the best investors ever started in microcaps. Many of the best performing stocks ever started as microcaps. Most of the best performing stocks over the last 10 years came out of the microcap ecosystem. Finding great companies early has never gone out of style. Image
Microcaps have little analyst coverage. Microcaps have few institutions. Microcaps have very little liquidity. This means you must do your own work and form your own conviction. It makes the losses a pure learning experience, no one else to blame, and the wins a pure joy. Image
Read 5 tweets
Ian Cassel Profile picture
Dec 28, 2022
In the book, The Art of Execution, portfolio manager Lee Freeman-Shor invests $25-$150 million in 45 of the world’s top investors. His instructions to them were simple as there was just one rule. They could only invest in their ten best ideas.
Over several years he tracked their positions, trades, performance and was amazed at what he saw. He identified both good and bad habits and divided the investors into groups – Rabbits, Assassins, Hunters, Raiders, and the most successful group, the Connoisseurs.
“The most successful investors I worked with, those who made the most money, all had one thing in common: the presence of a couple of big winners in their portfolios. Any approach that does not embrace the possibility of winning big is doomed.”

– Lee Freeman-Shor
Read 8 tweets
Ian Cassel Profile picture
Jun 10, 2022
Some BuzzBitts:

Gas Spending – Last week, 7.8% of total credit card spending were charges for gas vs. 6.4% in February. All debit and credit card spending increased 9% over the year ago period – Dow Jones News
Longevity – The average American man lives to age 76 vs. 81 for the average woman. Why? Men are more likely to smoke, drink excessively, be overweight, less likely to seek medical help early and also more likely to be non-adherent to medical treatment - TIME
Caffeine [Part 1] – is the most widely used drug in the world. An estimated 80% of Americans seek out a jolt every day. Caffeine can sustain attention, speed up reaction times and boost memory...
Read 6 tweets
Ian Cassel Profile picture
May 6, 2022
From Buzz Heidtke newsletter:

Below is a great @MicroCapClub write-up on my friend Fred Astman (1922-2013), who passed away in 2013 and was one of the top small cap value investors in the country. I met Fred around January of 1978, when he was running a small-cap mutual fund.
Fred started out as an accountant before moving to the investment business. The best investment advice he ever gave me was to never invest in a company with a negative net worth – all companies at some point have a round of bad luck and the strong will survive but the others wont
Until Fred’s death at 91 or 92 he was in the office daily reading his annual reports. He died shortly after falling at an investor conference, otherwise he would still be with us. A 1998 Wall Street Journal article had Fred as the no. 1 money manager with an 854% return.
Read 4 tweets
Ian Cassel Profile picture
Apr 9, 2022
A great book:

In 1872, right before he hit the big bonanza, Mackay warned his wife that the Consolidated Virginia could easily consume all of their money.

His wife asked what would happen if it did.

Mackay replied, “We’ll go broke and start over.”

amazon.com/Bonanza-King-M…
In his day, John Mackay’s story (1831 – 1902) was the most beloved rags-to-riches story in America. He’d risen from the infamous Five Points, the world’s most notorious slum.
When Mackay sailed from New York in 1851, he’d had no name, no money, and not a single influential friend on earth. He possessed nothing but strong arms, a clear head, and a legendary capacity for hard work.
Read 9 tweets

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