In this episode, we’re joined by deep value investor Lee Roach, author of The Value Road Substack, to explore what it really means to find value where no one else is looking.

Lee shares his unconventional path from working overnight shifts in a manufacturing plant to becoming a full-time investor and writer. We dive into his approach to deep value investing, with a focus on micro-cap and nano-cap stocks, why “cheap” isn’t enough without a catalyst, and how patience and psychology play a critical role when prices move against you.

We also discuss the tradeoffs of investing in illiquid markets, how to distinguish between stocks that are cheap for a reason versus simply ignored, and why smaller investors may actually have an edge in parts of the market institutions can’t touch.

This is a thoughtful conversation about process, discipline, and doing the work others won’t — not chasing hype, but uncovering opportunity in the market’s blind spots.

Join the premium Skippy and Doogles fan club. You can also get more details about the show at skippydoogles.com, show notes on our Substack, and send comments or questions to skippydoogles@gmail.com.