In this episode of the Planet MicroCap Podcast, I spoke with Tim Travis, Founder and CIO of T&T Capital Management, to discuss where today’s biggest market disconnects may be creating opportunity - from REITs and BDCs trading at distressed valuations to overlooked microcaps priced for far worse outcomes than fundamentals suggest.

Tim shares how his value investing approach has evolved beyond traditional “cigar butt” investing toward a more dynamic, sum-of-the-parts framework, why options strategies can create an edge in volatile markets, and how he’s thinking about management quality, survivability, and AI’s growing impact on both investing and entrepreneurship. We mention several companies and sectors during this conversation, and I’m not a shareholder in any of them.

For more information about T&T Capital Management, please visit: https://ttvalueinvesting.com/

Chapters:

00:00 Introduction and Market Reflections
02:01 Identifying Opportunities in Real Estate and Private Credit
05:22 Margin of Safety in Today's Market
07:49 The Importance of Patience in Investing
10:31 Understanding Market Sentiment and Investment Conviction
12:39 Catalysts vs. Buying Cheap Assets
18:17 Investing in Microcaps and Overlooked Characteristics
21:34 Thematic Investing and Long-Term Strategies
23:40 The Importance of Process in Investing
24:14 Timing Risk and Deep Value Investing
26:24 The Unique Advantage of Options in Portfolio Management
27:58 Micro Caps: Opportunities and Challenges
29:54 Identifying Promising Micro Cap Investments
32:56 The Current State of Value Investing
35:24 The Impact of AI on Investing and Business
37:50 Common Misconceptions in Value Investing
39:31 Investing Without Valuation Multiples
41:50 Long-Term Perspectives in Investing

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This presentation is for informational purposes only and should not be construed as a recommendation to purchase or sell any security referenced herein. Planet MicroCap Holdings LLC and MicroCapClub LLC (collectively, “we” or “our”) are not licensed brokers nor registered investment advisors. We, our partners, contractors, members, subscribers, guests, or affiliates may or may not hold positions in one or more of the securities mentioned in this presentation and may trade in such securities at any time. We may have received cash compensation from one or more participants for presenting at past, present, or future events. We recommend you consult a licensed investment adviser, broker, or legal counsel before purchasing or selling any securities referenced in this presentation.