45 - Geoff Gannon Interview: Concentrated Investing in Overlooked Stocks ($NC, $KARE.AT, $NKR, $TRUX, $VLGEA)

How to connect with Geoff Gannon

• Follow his work on Twitter: @FocusedCompound
  • Managed by Geoff's partner Andrew Kuhn
• Check out his website:
  • FocusedCompounding.com
  • Weekly Email and Watchlist
• Listen to his podcast:
  • The Focused Compounding Podcast

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You can find out more information by listening to episode 11 of this podcast.

Show Outline: Interview with Geoff Gannon of Focused Compounding Capital Management

The full show notes for this episode are available at https://www.diyinvesting.org/Episode45

Part 1: Background and Geoff's Investing Process

• How have you developed as an investor over time?
• Willow Oak Partnership - Hedge Fund Launch
• Geoff Gannon's Investing Process:
  
  • Concentrated (5 positions - 20% each)
  • Overlooked stocks (Low liquidity, low beta)
  • High Quality & Value Focus
• What to look for in corporate management
• Does selling stocks add value?
• Village Supermarket (VLGEA), Activision (ATVI), Coinstar (now private)

Part 2: Example Investments - NACCO ($NC)

• Up 90% YTD (as of October 3rd, 2019)
• Finding value during spin-offs
• How to earn infinite returns on capital while mining coal 

Part 3: Stock Talk - Karelia Tobacco (KARE.AT), Nekkar (NKR), Truxton Trust (TRUX)