We may have found an information disconnect with another company. While we pulled the trigger right away with ESCC, it’s not always a given that we will do so with all information arbitrage plays, nor is it a given that we are entirely comfortable with going too gangbusters on our commentary, especially if it’s a company that operates in a field we are not too well versed in. This is the case with oil field chemical company,, when on August 15, 2022, the company filed a Management Discussion & Analysis document in conjunction with its Q2 financial results. It should be noted that we missed the filing when it came out but are using this as an example of how detrimental it can be to miss valuable information. In other words, while it would have been nice to have tracked it from ground zero, we’re not sure we would have bought the stock.

We are following a stock that has something in common with an historic stock market milestone - the year 1929. The span of time between 1929 to 1939 marked a 10-year era known as The Great Depression, a protracted event that many argue had a multitude of causes, both domestically in the United States and worldwide. The US saw a major decline in the stock market, falling consumer prices (deflation) in the midst of a major shift in product manufacturing techniques, joblessness, and an eventual slowdown in global trade that brought commerce to a fraction of what it once was just years before. Ironically, we are now following a manufacturing company that was incorporated the very year marked by the beginning of the Depression. (although it was technically founded in 1880). If you think about that for a second or two, it’s not often you can find a company that has been around for 140+ years. As you may know by now, our first criteria in our tier one quality microcap checklist is “long operating history.”

For you on this labor day, keeping with our promise to break out the stock pitch clips from Maj’s discussion with Quim Abril, they are now available for viewing. Extracted from the August 29, 2022 Podcast between Maj and Quim are segments on...