Position sizing and risk management

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In this conversation, Michael Liu, founder of Capuchin Capital, shares his journey from early experiences in investing to establishing his own firm focused on microcap and biotech investments. He discusses his unique investment strategies, the importance of understanding shareholder dynamics, and the challenges of managing investor expectations. Michael also emphasizes the significance of mental clarity in trading, shares resources for researching small companies, and challenges conventional investing wisdom. Throughout the discussion, he provides insights into the volatility and opportunities present in the biotech sector, as well as practical advice for aspiring investors.

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Chapters

00:00 Introduction to Michael Liu and Capuchin Capital

01:40 Michael Liu's Early Days in Investing

06:04 Transitioning to Capuchin Capital

10:24 Investment Strategies and Experiences

15:24 Understanding Biotech Investment Dynamics

18:36 Case Studies in Biotech Investments

23:47 Navigating the Challenges of Fund Management

33:22 Trading Biotech Stocks: Liquidity and Timing

36:00 The Importance of a Clear Mind in Trading

38:53 Daily Routines and Mental Balance for Traders

40:36 Position Sizing and Risk Management Strategies

44:30 Researching Small Companies: Resources and Techniques

46:23 Advice for Aspiring Investors: Education and Passion

51:00 Challenging Conventional Investing Wisdom

54:59 Understanding Scale in Investing Strategies

58:52 Utilizing Resources for Press Releases and News

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