{"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":"Why International MicroCaps Resemble the U.S. Opportunity of the 1990s with Robert Gardiner, Chairman & Co-Founder of Grandeur Peak Global Advisors","slug":"why-international-microcaps-resemble-the-u-s-opportunity-of-the-1990s-with-robert-gardiner-chairman-co-founder-of-grandeur-peak-global-advisors","published_at":"2026-01-13T08:01:00+00:00","page_url":"https://stenobird.com/podcast/planet-microcap-podcast-microcap-investing-strategies-47007/why-international-microcaps-resemble-the-u-s-opportunity-of-the-1990s-with-robert-gardiner-chairman-co-founder-of-grandeur-peak-global-advisors","show_page_url":"https://stenobird.com/podcast/planet-microcap-podcast-microcap-investing-strategies-47007","url":"https://planetmicrocap.podbean.com/e/why-international-microcaps-resemble-the-us-opportunity-of-the-1990s-with-robert-gardiner-chairman-co-founder-of-grandeur-peak-global-advisors/","audio_url":"https://mcdn.podbean.com/mf/web/5r9h9kv3qahmfmbv/PMP_with_Robert_Gardiner_AUDIO_ONLYb190d.mp3","summary":"International micro-cap markets in Japan, the UK, and the Nordics currently mirror the high-inefficiency, low-coverage environment of the 1990s U.S. market. Robert Gardiner explains how a rigorous bottom-up approach and physical company engagement can uncover alpha in these unloved global regions.","meta_description":"Explore why international micro-caps offer a massive opportunity similar to the 1990s US market, featuring insights from Grandeur Peak's Robert Gardiner.","key_points":["Main idea: International micro-cap markets like Japan and the Nordics are currently experiencing a period of high inefficiency and low institutional coverage","Practical takeaway: Effective global investing requires 'touching the company' through on-the-ground visits to validate qualitative management signals that AI cannot capture","Failure mode: Over-weighting valuation metrics at the expense of fundamental momentum can lead to falling into value traps","Main idea: The rise of private equity and regulatory shifts in the U.S. have significantly shrunk the available opportunity set for domestic micro-cap investors","Practical takeaway: Successful long-term investing relies on a culture of ownership and a disciplined process of continuous, incremental improvement"],"chapters":[{"start_ms":410000,"title":"The Evolution of Small Cap Research","summary":"Reflecting on the transition from early computing to the AI era and the enduring challenge of identifying future giants."},{"start_ms":1000000,"title":"Founding Grandeur Peak","summary":"Lessons carried over from Wasatch and the transition to establishing a new global investment firm."},{"start_ms":1320000,"title":"The International Opportunity","summary":"Why US investors have abandoned international small caps and why the current global landscape is ripe for value seekers."},{"start_ms":1620000,"title":"The Japanese Market Shift","summary":"Analyzing the rise in dividends, buybacks, and M&A activity within Japanese micro-cap companies."},{"start_ms":1920000,"title":"Quantitative Screening and Qualitative Research","summary":"How to use advanced screening to filter 35,000 companies and the necessity of physical site visits."},{"start_ms":2210000,"title":"The Importance of 'Touching' Companies","summary":"Why direct engagement with management provides critical data points that digital research misses."},{"start_ms":3410000,"title":"Refining Investment Culture","summary":"Lessons from a sabbatical on balancing research breadth with depth and fostering a culture of ownership."}],"topics":["Micro-cap investing","Global equity markets","Japan stock market","Investment process","Fundamental analysis","Value investing","Small cap stocks","Corporate governance"],"duration_seconds":4034,"processing_state":"processed","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/planet-microcap-podcast-microcap-investing-strategies-47007/episodes/why-international-microcaps-resemble-the-u-s-opportunity-of-the-1990s-with-robert-gardiner-chairman-co-founder-of-grandeur-peak-global-advisors/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/why-international-microcaps-resemble-the-u-s-opportunity-of-the-1990s-with-robert-gardiner-chairman-co-founder-of-grandeur-peak-global-advisors.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}