Planet Microcap Podcast | Microcap Investing Strategies

In this episode of the Planet MicroCap Podcast, I spoke with Sebastian Krog, Founder & Editor of Treasure Hunting Newsletter on Substack, to unpack the evolution of his process from stock picker to true portfolio manager. We dive into the hard lessons from recent portfolio companies, how “thesis drift” and position sizing can make or break returns, and why he’s shifted toward more predictable, profitable businesses over speculative turnarounds. Sebastian also shares how industry dynamics often matter more than management, how he’s using AI to uncover themes, and why in microcaps, what you do after you buy the stock is often the difference between winning and losing. We mention several companies and sectors during this conversation, and I’m not a shareholder in any of them. For more information about Treasure Hunting Newsletter on Substack, please visit: https://treasure-hunting.co/  Chapters: 00:00 Introduction and Background 02:03 Investment Philosophy Evolution 05:28 Case Study: Innovative Food Holdings