{"podcast":{"title":"Planet MicroCap Podcast | MicroCap Investing Strategies","slug":"planet-microcap-podcast-microcap-investing-strategies-47007","podcast_index_feed_id":47007,"rss_url":"https://planetmicrocap.podbean.com/feed.xml","website_url":"https://planetmicrocap.podbean.com","image_url":"https://pbcdn1.podbean.com/imglogo/image-logo/793340/dark_green_squarebhyvk.jpg","author":"Planet MicroCap","episode_count":231,"summary":"Educating the Next Generation of Investors in MicroCap and Emerging Growth Companies with Host Robert Kraft, CEO of Planet MicroCap, The Official MicroCap News Source","last_synced_at":null,"page_url":"https://stenobird.com/podcast/planet-microcap-podcast-microcap-investing-strategies-47007"},"episode":{"title":"Value Investing Playbook with Tobias Carlisle, Co-Host, Value After Hours, and Portfolio Manager, Acquirers Funds","slug":"value-investing-playbook-with-tobias-carlisle-co-host-value-after-hours-and-portfolio-manager-acquirers-funds","published_at":"2026-01-30T08:01:00+00:00","page_url":"https://stenobird.com/podcast/planet-microcap-podcast-microcap-investing-strategies-47007/value-investing-playbook-with-tobias-carlisle-co-host-value-after-hours-and-portfolio-manager-acquirers-funds","show_page_url":"https://stenobird.com/podcast/planet-microcap-podcast-microcap-investing-strategies-47007","url":"https://planetmicrocap.podbean.com/e/value-investing-playbook-for-2025-2026-with-tobias-carlisle-co-host-value-after-hours-and-portfolio-manager-acquirers-funds/","audio_url":"https://mcdn.podbean.com/mf/web/2cigtfywyqngkr52/riverside_tobias_carlisle_x_robe_jan_19_2026_002_planet_microcap60hdt.mp3","summary":"Value investing thrives by identifying businesses in cyclical pain rather than structural decline. This discussion explores how to use balance sheets as a defensive moat and find opportunities in capital-starved sectors.","meta_description":"Tobias Carlisle shares his 2025 value investing playbook, focusing on mean reversion, margin of safety, and finding opportunities in neglected small caps.","key_points":["Main idea: Distinguish between cyclical downturns and structural declines to find profitable businesses at the bottom of a cycle","Practical takeaway: Use the 'Acquirer's Multiple'—comparing operating earnings to enterprise value—to identify deep value","Failure mode: Avoid 'narrative-driven' investing; focus on trailing financial statements and cash flow instead of market hype","Practical takeaway: Prioritize strong balance sheets to provide downside protection against rising interest rates","Main idea: Mean reversion in small and micro-cap stocks is likely as capital starvation in these sectors creates attractive entry points"],"chapters":[{"start_ms":60000,"title":"The Acquirer's Multiple Framework","summary":"An introduction to Tobias Carlisle's methodology of using operating income relative to enterprise value."},{"start_ms":510000,"title":"Energy and Cyclical Bottoms","summary":"Evaluating energy companies by looking for profitability and free cash flow during price troughs."},{"start_ms":710000,"title":"Cyclical Pain vs. Structural Decline","summary":"How to identify businesses that are temporarily struggling versus those facing permanent industry shifts."},{"start_ms":930000,"title":"Margin of Safety and Business Quality","summary":"The importance of maintaining a margin of safety while waiting for business quality to manifest."},{"start_ms":1320000,"title":"The Impact of Private Equity Capital Starvation","summary":"How the difficulty in selling private equity holdings is driving capital toward undervalued small-cap stocks."},{"start_ms":1530000,"title":"Balance Sheets as Downside Protection","summary":"Analyzing how interest rate normalization affects debt-heavy small and micro-cap companies."},{"start_ms":1930000,"title":"Predicting 2026 Mean Reversion","summary":"The thesis for a significant mean reversion event in the small and micro-cap space."},{"start_ms":2120000,"title":"Global Opportunities and Japan","summary":"Exploring international markets and the potential for value in regions like Tokyo."}],"topics":["Value Investing","Microcap Stocks","Mean Reversion","Margin of Safety","Small Cap Investing","Financial Statement Analysis","Enterprise Value","Capital Allocation"],"duration_seconds":2751,"processing_state":"processed","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/planet-microcap-podcast-microcap-investing-strategies-47007/episodes/value-investing-playbook-with-tobias-carlisle-co-host-value-after-hours-and-portfolio-manager-acquirers-funds/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/planet-microcap-podcast-microcap-investing-strategies-47007/value-investing-playbook-with-tobias-carlisle-co-host-value-after-hours-and-portfolio-manager-acquirers-funds.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}