Independent research focused on overlooked small and micro-cap equities, names that often fall outside the mandate of larger funds. I build valuations from the ground up using filings, earnings calls, and company presentations, then go beyond the disclosures to test the story against industry data, expert perspectives, and the realities of the business. I ultimately weigh that work against where the stock trades to identify where the market may be mispricing the company.
My primary focus is independent research on small- and micro-cap equities across the U.S. and Canada, with a particular interest in businesses approaching inflection points in operating leverage and profitability before the broader market recognizes the change.
This past summer, I served as the sole equity researcher for a Bahamian investment firm managing about $1 billion in assets. I built valuation coverage from the ground up on BISX-listed companies across consumer, telecom, industrials, and healthcare, bringing a more fundamental, research-driven approach to a market often influenced by reputation and word of mouth.
The approach is the same in both markets: I take the time to understand how a company actually makes money, what drives its economics, and where the thesis could break before assigning it a value. In smaller, overlooked companies, the most important information is often what no one has taken the time to uncover. I'd rather know five businesses exceptionally well than skim thirty.
My primary focus is U.S. and Canadian equities, with each company supported by a full three-statement model and a discounted cash flow valuation, presented as a valuation snapshot. I have several names fully researched, with more currently in active research.
BISX is a thin market, where local investors have historically been willing to pay a premium rather than apply the country risk premium a Bahamian asset may command from a global investor. My models apply that risk premium explicitly, making it a key driver of the valuation differences below rather than the operating forecasts themselves. Each company is supported by a full three-statement model and a discounted cash flow valuation, presented as a valuation snapshot.