Planet MicroCap Podcast | MicroCap Investing Strategies Thinking like Private Owners in the Public Markets with Jason Kirsch, Portfolio Manager at Rosen Partnership
Dec 5, 2025
Jason Kirsch, portfolio manager and co-architect of Rosen Partnership’s Active Value Strategy, focuses on private-owner-style investing in micro-caps. He discusses buying capital-light, high-ROIC compounders at discounts. He explains building a knowledge edge through deep channel checks, practicing constructivism with management, handling value traps from misaligned owners, and long-term position sizing tactics.
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Build A Knowledge Edge Through Deep Research
- The edge comes from building a mental model of the business and creating a knowledge gap others won't.
- Deep research includes past CEOs, former employees and competitors to map where the company was, is, and could be.
Know Your Investor Psychology
- Understand your own investor psychology and biases before sizing positions or reacting to short-term noise.
- Decide whether you buy on catalysts or fundamentals and stick to that temperament to avoid panic selling.
Bought Hidden Value In 2022 Small Caps
- In 2022 Rosen bought compounding businesses trading below where assets had been acquired, capturing hidden value as markets ignored small caps.
- They found real estate-like names trading under NAV that later benefited from asset sales and recycling of capital.