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Book Review: Finding Midas By Russell Cleveland

I always enjoy reading books by experienced microcap investors. I first heard of Russell Cleveland when I was an investor in Global Axcess Corp (GAXC) a few years ago and I noticed he also owned the stock. I read about him and found he had a similar investment philosophy to

I always enjoy reading books by experienced microcap investors. I first heard of Russell Cleveland when I was an investor in Global Axcess Corp (GAXC) a few years ago and I noticed he also owned the stock. I read about him and found he had a similar investment philosophy to my own.  Russell Cleveland is the principal founder and the majority shareholder of RENN Capital Group, which provides capital to emerging public companies. He has more then 40 years experience investing in microcaps.  Russell wrote Finding Midas in 2007, which goes into detail on his investment philosophy in picking microcap winners.

Finding Midas is a short book and will only take you a couple hours to read, especially if you are a microcap investor. Russell’s vision for the book is simple, microcap success is all about betting on the jockey.  In the book they call it Entrepreneurial CEO Investing.  Russell only buys a microcap stock that has certain leadership characteristics.  First, the CEO must own a meaningful position in the company and have a clear vision for the future.  He tells you how to find them and gives several examples and criteria in the book.  Second, the company must currently be profitable, and you must be able to buy the stock at a reasonable price.  Again, more detail can be found in the book. Lastly, he believes you should hold around 10-20 positions to diversify risk, and then he provides his selling criteria. The last half of the book he gives case studies of Entrepreneurial CEO Investing successes and lessons learned.

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I really enjoyed the book and I share many of Russell’s microcap investment philosophies, the most important one being, you bet on the jockey. I’m going to see if I can interview Russell Cleveland in the future.

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MicroCapClub is an exclusive forum for experienced microcap investors focused on microcap companies (sub $500m market cap) trading on United States, Canadian, European, and Australian markets. MicroCapClub was created to be a platform for experienced microcap investors to share and discuss stock ideas. Since 2011, our members have profiled 1000+ microcap companies. Investors can join our community by applying to become a member or subscribing to gain instant view only access. MicroCapClub’s mission is to foster the highest quality microcap investor Community, produce Educational content for investors, and promote better Leadership in the microcap arena. For more information, visit http://microcapclub.com and https://microcapclub.com/summit/

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