224: Microcap Investing with Ian Cassel

And so really, for the last 25 years been focused on this space.

And, you know, the first, the first real goal was to become a full time private investor just living off my own portfolio.

Well, that is an awesome story for sure.

So you had to take a bus to this conference.

Dad wasn't around to give you a lift in the chopper? They were unaware of all this happening.

Let's put it that way.

That's a good idea though.

Yeah.

I mean, do you think that my perception is that, and you correct me, the joke I was going to make is that your dad is obviously not risk adverse and you clearly from a young age were not risk adverse.

How do you think about risk now?

Yeah, I mean, I think when I think back on probably the biggest determining factor, well, we can go back even further before I ever knew what a stock was.

You know, I think the way you're brought up, your values, your parents, you know, a lot of things shape the type of investor, the type of risk tolerance you have.

You know, and for me, you know, Lancaster County is kind of known as like the rural area.

conservative bible belt you know pennsylvania you know and my parents were very religious um you know faith was a big part of their life and my dad was a small business owner when i mean small it was just him doing the work and my mom doing the books about as small as it gets and you know some years were good some years were bad you know and so he saw volatility you know in his life as a small business owner and one of the other things you know kind of the things that shape you like My upbringing was probably about as American as apple pie.

You know, there wasn't that much hardship.

There was no relational drama.

It was pretty calm.

It was pretty good.

You know, and I often think about that being a professional.

If you have volatility in your profession, whether that's in your business or in the stock market like me, you know how how much better it is when you can come home to a home that's calm.

you know, that isn't volatile.

Um, and I know that's something that's kind of shaped me too.

And, you know, obviously finding a spouse or having a family, you know, knowing that as well.

So those are kind of those, those shaping elements, but I think I seen him, he was used to that volatility and I'm sure that did, um, did have an impact on me.

I think that first win that I had, even though it was all luck, it was 120% luck that I made that money when I invested it.