Small Caps Podcast with Paul Scott – Episode 1

I’ve decided to revive the idea of a weekly podcast on small caps, because there are so many interesting opportunities out there right now, with share prices slashed deeply.

In this podcast, I discuss market conditions, and run through the most interesting out of the 29 companies Graham & I reviewed in this week’s Stockopedia Small Cap Value Reports.

As always, we’re not giving advice. Just opinions, some of which will turn out to be right, and some wrong. Please always do your own research, and take responsibility for your decisions.

I’d love to hear your feedback – are these interesting, and worth me doing more of them? Please feel free to leave comments below.

Hint – if you want to listen on a mobile device, then just open this page in a web browser on your mobile device, whilst on WiFi, click the 3 vertical dots above on the RHS of the audio timeline thingy, and select “download”. Then you can listen to the audio file offline, without incurring data charges.

47 comments

  • Paul
    Great to hear you are back in podcast mode !!
    Keep ’em coming

  • great listen especially the last few seconds glad you have tech probs as well have a new nickname for you Captain pugwash remember him!!!

  • Very good podcast Paul, particularly liked stocks covered the use of the phonetic alphabet. Think (papa alpha) should be taught in schools and Weather forecasts especially. Was taught it in the forces and as all police, ambulance service fire service members are. If you keep using it try practicing when out on the road looking at car licence plates and it will come second nature. Keep up the good work Tango Hotel Alpha Kilo Sierra.
    from Empty Pockets!!

  • Thanks Paul. I for one found it really interesting and the format spot on. Hope enough investors comment to keep this going.

    Cheers

  • hi Paul, enjoyed this a lot, thank you. I hope you keep them up.

    Please also remember for everyone that comments there are probably 100+ people that liked it but didn’t get around to commenting, that’s just the way of the internet! though I agree given the time and effort needed to create content, it would be nice if listeners took 1 minute to thank you. It’s so easy to mean to and let it slide though, I know there are several times I’ve stayed at a b&b, it’s been really good and I’ve thought “I must leave them a positive review on tripadvisor”… and then don’t get around to it.

  • Great Podcast Paul – please keep them coming

  • How do I turn this off..ha ha
    Enjoyed that Paul. Always read your Stockopedia comments but this podcast brings things to life a bit more .
    Thank you

  • when will this be availble on Apple podcasts?

    • Hi Adeel, I’m just trialling podcasts here, but am aiming to publish them on platforms such as Apple once I’ve got into a routine. Thanks, Paul. P.S. It’s easy to download from here onto your mobile device, for now.

  • Thanks Paul. Very useful. Enjoy listening to your thoughts and ideas. Please do more when time permits.
    All the best

  • Hello Paul

    Didint know you were dong one and picked the reference up form Tamzin’s comment today – Tuesday 5th (Tynwald Day here in the Isle of Man – the longest continuous parliament in the world. The chance for all the legislation passed here in the last year to be read out in English and also in Manx. A lengthy process. All outdoors so weather dependent. Great day today so good luck t all attending. A party day as well as the ceremonies.

    Anyway, onto the podcasts. I hope you continue with them. They are great, and although I certainly don’t agree with you on everything, as you say it is good to discuss them. You say you enjoy it and you are really good at it. Even where I disagree with you, it is a good check on my conclusions.

    Thanks and dont stop now!!!

  • Please do carry on with these. I really enjoy your insights and thoughts, Very educational and entertaining – well done and many thanks

  • Enjoyed very much and found it interesting.

  • Great idea.

  • Hi Paul, Loved this podcast. Really interested in your comment about buy and hold. When I was still wet behind the ears I used to sell out when the market had a major wobble. Having listened to so many highly experienced investors I thought I too must buy and hold. Doesn’t quite make sense but it must be right, I thought. I think you are absolutely right to now question that strategy. This current downturn was fairly well signalled and I too now wish I had sold out. I am almost fully invested so don’t have spare cash to pick up all the inevitable bargains. At the next sign of a bear market I might well sell out again.
    Missed you at Mello live this time. Hope to see you again soon. All the best,
    Charles

  • Excellent Podcast. Thank you.

  • Hi Paul, a fellow stockopedia subscriber here. I really enjoyed the podcast, especially as it allows me to listen whilst doing the drop off / pick ups for the kids . I hope that you’re willing to keep this going from time to time.
    Kind regards
    Paul

  • Bruce Swallow

    Very Informative Keep Up The Good Work Please

  • Thanks for that Paul

  • Excellent and enjoyable,

    I have been a member of Stockopedia for some years but only glimpse through the SCVR’s due to time restraints unless I have a specific interest, so this is very helpful and informative which can save hours of wasted research.

    I recall your previous podcasts and was surprised when they ceased so very pleased you have decided to start them again.

    Many thanks

    Jim

  • Excellent. No need for the phonetic tickers. Please keep doing podcasts

  • Great to hear this back Paul.

    Clear as a bell so don’t really need the phonetic versions of tickers.

  • Thanks Paul – this is a great idea, and I also love the humour thrown in. Ideal for people who might not get time to read the SCVR every day, so gives them chance to go back if they hear anything of interest. It is also quite reassuring you find these difficult times exciting, and I do get what you mean.

    Keep up the good work
    Thx Steve

  • Really enjoyed that, would be great to see you do this every week.
    Please do include any thoughts you have on macro, general markets or anything else that comes to mind as it makes it a more enjoyable listen.

  • Great to listen to this Paul – like the combination of Macro and company specific – good to keep this going if possible. Although only listening, sometimes it feels like I’m in a genuine conversation with you. As ever, flexibility of thinking is required – ignoring both market highs and market lows (relative to mid term earnings). Have received proceeds from 2 takeovers this year (Air Partner, Clipper Logistics) so have cash available but will be drip feeding this back in to the market very cautiously over the next 6 -12 months, so every word is valuable. .As for stoplosses, it is interesting to hear Lord Lee’s approach i.e. choose carefully then HOLD. As I’m sure you are aware, he started investing before the terrible 1973/4 bear market which saw PEs for big companies go below 5. The real danger -as you allude to – is enduring big drops and then selling out close to the bottom for any share. How much more we might fall I have no idea.

    Although you (and everyone else) gets things wrong a certain percentage of the time, it must be great to call things out and eventually be proved correct. Latest one is AO. – with this weekend’s ST article (which you refer to in today’s SCVR) quoting the credit insurance issues. You have – for many months if not years – mentioned that while growth was present at AO. , it was such low margin (weak balance sheet also ??) – that there was little point in that growth.

    Keep up the great work.

  • Excellent, Paul. Thanks. Peter

  • This was better than I anticipated. I always read the SCVR and I thought this would just be a re-hash. But it wasn’t just a re-hash. It improved on the original SCVR in two ways: 1) The macro section was very good. It also gives listeners some good ideas about strategies and investment process. 2) The section on individual companies provides a good summary. My take on it was that it is a good way to highlight the best and worst investment opportunities that came up in the previous week.
    Thanks. Please keep it up.

  • PERSONAL style – very good – please don’t become mechanical – I value the bias, that is where the value is!
    I read the SCVR almost every day – Less so now they are updated later than you use to as I have a day job and 9:30 is my cut off so I have to read at end of day.
    I would drop Stockopedia sub if it wasn’t for the SCVR as I get most of the other info elsewhere.
    Weekly freq – good
    Macro / context section – good
    Overview of your “favs” or “most interesting” and your end of week comment – good
    Personally I like things pushed to me – e.g. have an email posting that says this has gone live and then I can listen, rather than remember to check in.
    Not sure about the Saudi city – Abu Dhabi tried Masdar – now a shadow of its vision – yet so much more achievable than the Saudi vision – however that could provide decades of revenue.

  • Shane Mc Kinley

    Cheers Paul

  • Absolutley fantastic Paul. Loved your low-key delivery – as if we were just chatting one to one and mulling over investment ideas and taking in the macro overview. Please continue in this vein if you can. Both enjoyable and thought provoking . Thanks

  • Douglas Battersby

    Thanks Paul, that was very enjoyable and useful. Please carry on when you can.

  • Thanks. Enjoyable way to start Monday.

  • I really enjoy your Podcasts Paul so please keep them coming !!

  • will you share another way?

  • Simon Botting

    Really enjoyed this, please keep on podcasting, also missing your presence on Twitter! Lets hope that EM comes through with his free speech absolutism!

  • Thanks Paul, definitely value the podcast so do keep going if you can.
    I don’t currently own any of the shares but find ideas generation and hearing other people’s view points really useful and interesting.

  • Thank you Paul Even if once every two weeks for those interested in Uk small caps this is great listen

  • Great podcast Paul. Glad you have rekindled this

  • Just to say “perfect”! Many thanks Paul. You are a real treasure.

  • Excellent. Thank you. I don’t normally do podcasts – but in this case I think that the approach you have adopted is a natural complement to the SCVR writeups in that off the ‘top of the head’ it I felt that it reveals your natural inclination towards events and companies. It almost feels like we’re chatting in a pub – even thought I’m only listening. I really enjoyed it, which is unusual for me.

    Particularly enjoyed the macro introduction. I don’t think it’s something that you have to do – but if it occurs to you then it sets the scene really well. Likewise – for the whole podcast. If it becomes a chore, perhaps it won’t have the same spontaneity?

    Like you I am a natural optimist. Even in these difficult times – and despite having made a couple of real silly boo-boo’s that I kick myself over on a daily basis.

    As Charlie Munger apparently said, deciding to sell is not just one opportunity to make a mistake. It’s actually 3 – the first when you sell, the second in deciding what to do with the funds in the meantime, and the third is when to buy back. Right now we’re only judging on the first outcome, and perhaps a bit of the seond. It’s so easy to be convinced I’ve made a mistake in not selling, I’m being reminded on a daily basis – but the bargains surrounding me tell a different story..

    What I do need to do (having inadvertantly become a fully time investor thanks to long covid) is to really focus upon my research and analysis and improve my game – it won’t be worth a tin of beans today – but I keep telling myself it will make all the difference tomorrow. Your podcast is a lovely way to ponder on this over the weekend – so that’s very much for hitting that spot,

    cheers

    Mark (Illiwsilgig)

  • Jon (Matylda)

    Paul – This was excellent and spot on – And if you even want a sidekick every week happy to do it with you if even just to remember all the tickers for you – Great job and many thanks

  • Paul thanks, always interesting. I enjoyed the yachting reminiscense also!
    I own a few shares mentioned and your brief dismissals if some saves a lot of wasted research time.
    I differ on your overall view though, I expect a three year recession with large further falls.

  • Traviss Greenwood

    Very much enjoyed the podcast and have always been a buy and hold style investor but fully concur that stop loses would have saved some pretty steep mark downs for me personally you live and hopefully learn.

    Many thanks

    Paul

  • this was really great, thank you. I just hope a good proportion of the people who listen give feedback, to make it worthwhile.
    I am torn between a quick recap over lots of different shares, or perhaps slower time on some of the more compelling ideas. Perhaps a bit of both is the right way to go, as it is great to hear the detail behind the best ideas. But please do persist in these.

    It is certianly a very exciting time to be looking to deploy money in the the market, and it will be intersting to follow these over the coming weeks and months to see if we really are bottoming out or indeed if the pain is actually far from over. It is also a very nerver wracking time, and evryone climbs back into their hermit shells in times like these, so it is good to hear a decent podcast that is up to facing the reality.

    about 30mins is the right amount of time, and it is nice the ideas are linked back to SCVR. appreciated.

    • Thanks Ric!
      I suppose the idea for my free podcasts is a quick-ish summary of the week, then Stockopedia subscribers can refer back to the SCVRs for all the detail, if anything grabs your interest.
      Also, I forgot to say thank you to the subscribers who are continuing to support Stockopedia. People often let memberships lapse in tough times, which is understandable, but we rely on subscribers so that we can keep creating (hopefully!) decent, original content.
      Best wishes, Paul.

  • Great listen. Thanks Paul.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.