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Jan 28, 2023Liked by Tiago Dias

Interesting stuff, I agree that it looks as solid as you can get for a micro cap.

I don’t share your specific concerns about the family run aspect of the business, purely because of the stability of the company, and how well run it has been historically. My concern there is about what happens when J. Allen Fine dies, or is unable to carry on as Chairman and CEO. Without knowing the management and board on a personal level, that is a complete unknown - however that could go either way.

For a company this stable, I see macro headwinds as a positive for entering a long term position, assuming that any impending recession rebounds in the next few years.

Looking forward to the writeup, and would definitely like to hear your insight on other micro/small cap value plays.

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