Microcaps are "कचरा" : value investing is dead? | Investing Philosophy EP-05

Are micro-cap companies really just “kachra” or are we simply not looking closely enough? In this video, we take a deeper look at the micro-cap universe and explore how ideas from Benjamin Graham, Prof. Sanjay Bakshi, Neelkanth Mishra, Stanley Druckenmiller, Michael Mauboussin, Yuval Noah Harari and others can help us think differently about investing in smaller businesses. At Zen Nivesh, we use ₹3,000 crore market capitalization as our working definition of a micro-cap. This is a huge and relatively less-discussed part of the Indian market. But it also comes with higher uncertainty, lower liquidity, governance risks and plenty of speculation. So the question isn't simply “Are micro-caps good or bad?” The real question is: How do we separate the trash from the businesses worth studying? This video is an exploration of that question — through value investing, macroeconomics, market psychology, valuation and the importance of doing your own research. I’ve also written a detailed blog expanding on these ideas, bringing together the different “ingredients” that went into this framework. 👉 Read the full blog https://zennivesh.substack.com/p/microcaps-are-kachra-value-investing?utm_source=publication-search This video is for educational purposes only and should not be considered investment advice. Always conduct your own research before making investment decisions. The microcap definition and broader framework above are based on the accompanying blog.