Sector views and software cyclicality

Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/join-now/

In this Club Conversation, Dave Waters from Alluvial Capital, shares his unique journey into the world of investment management, highlighting his non-traditional background and the evolution of his investment philosophy. He discusses the concept of 'arbitrage of inconvenience' in micro-cap investing, the challenges of illiquidity, and the intricacies of expert markets. Waters emphasizes the importance of understanding why companies are public and how to value non-reporting companies. He also explores the role of catalysts in investment decisions, shares insights on international investment opportunities, and reflects on case studies of both successful and unsuccessful investments. Throughout the discussion, he provides valuable lessons on avoiding common investment mistakes and introduces his Tactile Fund strategy, which focuses on unique physical assets. Finally, Waters expresses his passion for investing and the importance of continuous learning, while also considering the future of investing education for his children.

✉️ Share your feedback - david@microcapclub.com

✉️ David’s X (Twitter) - https://x.com/Valuehunte

Chapters

00:00 Introduction to Dave Waters and His Journey

08:30 Investment Philosophy: Arbitrage of Inconvenience

13:24 Navigating Illiquidity in Micro Cap Investments

17:40 Understanding Expert Markets and Their Opportunities

21:34 Valuation Challenges in Non-Reporting Companies

25:41 The Role of Catalysts in Investment Decisions

29:56 Exploring International Investment Opportunities

31:19 Investment Strategies and Market Trends

32:56 Case Studies: Successes and Failures

40:56 Lessons Learned from Investment Mistakes

42:06 Avoiding Common Investment Pitfalls

45:50 Introducing the Tactile Fund

50:50 Managing Multiple Investment Strategies

54:46 The Passion for Investing and Continuous Learning

Disclaimer: All content on this channel is for discussion, education, entertainment, and illustrative purposes only and SHOULD NOT be construed as professional financial advice, solicitation, or recommendation to buy or sell any securities, notwithstanding anything stated on this channel. There are risks associated with investing in securities. Loss of principal is possible. Past performance is not a predictor of future investment performance. Ian Cassel and the guests on this channel are not responsible for investment actions taken by viewers. Should you need such advice, consult a licensed financial advisor, legal advisor, or tax advisor. You agree to verify all information yourself before investing. Any past performance discussed during this program is no guarantee of future results. Investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. All views expressed are personal opinions as of the date of recording and are subject to change without the responsibility to update views. No guarantee is given regarding the accuracy of the information on this channel. Releasees undertake no obligation to provide accurate or sound investment statements. You waive any and all duties that may exist flowing from you to any Releasee. You agree not to hold any Releasee liable for any possible claim for damages arising from any decision you make based on information or other content on the Channel.