LD Micro Trip Report

I enjoyed attending the LD Micro event held from October 24th to 27th this year in LA. This year I organized my notes a little more and created a "trip report" to share with our readers and subscribers.

The Context

The event is an exercise in sifting through and evaluating companies in search of potential "10 baggers" buried amongst lots of "0 baggers" (to quote one member of our research posse.)

These are just the companies that I saw or met with. There are more in the hopper since our team spread out to “divide and conquer” more of the field.

Besides the usual “this is not investment advice” disclaimer, you should know that these micro-cap companies are especially risky. Besides the fundamentals and execution, investors have to worry about dilutive financing, poor or non-existent IR efforts, and limited liquidity. So this is not an area to get mixed up in unless you have a lot of experience. It also lends itself to a “public venture” portfolio approach where you might set aside a small amount of money you can afford to lose and distribute it among a group of the best-looking longshots. Let them sit for a year or two. There are a few we will be doing that with.

The document also covers some macro reads, our notes on individual companies, and a section on the “single best ideas” shared by some more experienced micro-cap investors.

The Table of Contents is shown here, and a link to the full PDF is below for IPO Candy subscribers.