Some interesting microcap names – part one

This is just going to be the first part of an idea thread post, without full writeups on each business. I've been looking at some statistically cheap names recently and wanted to share some notes as I've gone through the list. I hope to make this a recurring post as I research new companies, but… Continue reading Some interesting microcap names – part one

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Planet Microcap Podcast Interview – How working for the San Antonio Spurs helped shape investing thesis

I had the pleasure of being interviewed by Bobby Kraft recently on his Planet Microcap Podcast. We talked about Greystone Capital investment philosophy and strategy, the lessons I learned during my time with the San Antonio Spurs, and a few other things. Feel free to give a listen below, or on iTunes. https://planetmicrocap.podbean.com/e/ep-94-how-working-for-san-antonio-spurs-helped-shape-investing-thesis-with-adam-wilk-greystone-capital-management/  

Hill International Inc. (HIL) – value with a catalyst

Ticker: NYSE:HIL Share Price: $3.15 Shares Outstanding: 55.6mm Market Cap: $175.4mm Cash: $27mm Debt: $45mm Enterprise Value: $193mm 2018 Adjusted EBITDA: $17mm Q1 2019 FCF: $7.5mm Hill International is a worldwide leader in project management services and construction consulting. Headquartered in Philadelphia, with offices all around the world, HIL has a long history dating back… Continue reading Hill International Inc. (HIL) – value with a catalyst

Manolete Partners (AIM:MANO) – a litigation finance microcap

Ticker: AIM:MANO Share Price: $6.11 (USD) (490p) Shares Outstanding: 43.5mm Market Cap: $263mm (USD) Cash: $27mm Debt: $0 Enterprise Value: $236mm This is going to be a shorter post as I continue to do some due diligence, but wanted to highlight an interesting microcap in the litigation finance space. While studying the litigation finance industry,… Continue reading Manolete Partners (AIM:MANO) – a litigation finance microcap

Brief Portfolio Update Q2 2019 and Greystone Capital Commentary

During the second quarter of 2019, Greystone Capital returned 16.5%, bringing year to date returns to 58%, which compares favorably to both the S&P 500 and the Russell 2000, up 18.5% and 16.8% YTD. The portfolio benefited most from holdings in CRH Medical, The Joint Corp., Rimini Street, and SharpSpring Technologies. I'm happy with the returns achieved… Continue reading Brief Portfolio Update Q2 2019 and Greystone Capital Commentary

Tandy Leather Factory (TLF) – a cheap business with a path to a decent return

Some great resources have been devoted to covering Tandy Leather Factory (disclosure: no position) on places like Microcap Club, as well as various blogs and podcasts. The consensus seems to be that this is a 'Buffett-like' business - slow growth, predictable, consistently profitable, slow to change, strong competitive advantage in a niche market - in… Continue reading Tandy Leather Factory (TLF) – a cheap business with a path to a decent return

Nautilus (NLS) – value destruction could lead to an opportunity

Nautilus is a fitness equipment manufacturer. The company makes consumer fitness products such as cardio and strength equipment, and owns some of the most recognizable fitness brand names in the industry, including Bowflex, Schwinn and Universal. Nautilus operates in two segments, direct to consumer and retail. Each segment has a separate distribution channel, with direct to… Continue reading Nautilus (NLS) – value destruction could lead to an opportunity