Riches in the Niches Investor Podcast Richard Sosa

What do Endowment Investing, Real Estate, Hedge Funds, Alternatives, Over-the-Counter (OTC) Stock Investing, Stock Newsletters, Peter Kamin, SunLink Health, Libsyn and Shareholder Board Meetings all have in common you may ask? In this episode of Riches in the Niches, our guest is Marcus Frampton, CIO of Alaska Permanent Fund Corporation, who manages the $71B in assets for the state of Alaska. Outside of his role as CIO, Marcus pursues niche investment opportunities. 

To learn more about Marcus you can reach him on Twitter @MarcusFrampton. To learn more about Richard please visit www.thinkaen.com. 

To subscribe to Marcus's newsletter please visit www.microcapletter.com.


Show Notes:
(01:18) About Marcus, Alaska Permanent Fund Corporation, Prudhoe Bay Oil Discovery, Oil Royalties, Private Equity
(04:16) Endowment Model at APFC, being CIO, January 2019, Retail Real Estate Ownership, Exposures over the last few years, Fund Rebalance
(09:58) Real Estate versus Private Equity versus Hedge Funds, LP versus GP Vehicles
(12:15) Backing established managers, don't write Private Equity checks less than $100 million, VC Commitments, Smaller Manager Selection
(14:20) Hedge Fund Due Diligence, Infrastructure Deals, Private Credit
(17:06) Quarterly Board Meetings at APFCO, Public Equities, Not being Micromanaged
(20:00) OTC Stocks, Inefficient Asset Class, No overlap with APFC, Covid, OTC Adventures, Dave Waters
(26:16) Speaking with OTC Management Teams, Finding undervalued stocks, why aren't insiders buying stock
(29:43) Reading 10Ks, MD&A Section, OTC Stock Letter and how it started
(33:48) Marcus's first personal stock investment growing up
(36:44) Endowment Board of Directors versus Public Company Board of Directors
(41:14) Stock Annual Meetings, Berkshire Hathaway Annual Meeting, going Virtual for Covid
(42:40) Calloway's Nursery CLWY, Peter Kamin and the Kamin Heads, stock buybacks and dividends
(46:48) The Tile Shop TTSH, Ikan Associates, Tropicana Entertainment
(51:43) Lone Star Oil and Gas, Liberated Syndication LSYN, Pink Sheets, El Dorado Resorts

Today's master class is with James Dinsmore, portfolio manager at GAMCO Asset Management. James is focused on convertible securities. For those of you that don’t know, GAMCO is a large money management firm run by legendary investor, Mario Gabelli. On this episode, James will go over his thoughts on convertibles as well as how GAMCO adds value to clients in this niche asset class. Let’s Niche Down with James Dinsmore. 
For more information on our firm please visit www.thinkaen.com.
To download the Convertible Securities White Paper please visit this GAMCO link Convertible Primer.

We explore the wonderful world of Over-the-Counter (OTC) Pink Sheet Stocks with David Waters of Alluvial Capital. In this episode, David talks about his love of obscure and unloved OTC Stocks, which is one of the last truly “niche” investment segments. We also discuss well known capital allocators Mario Gabelli, Peter Kamin and Robert Alpert as well as select portfolio holdings. Let's Niche Down with David Waters.
For more information on the host please visit www.thinkaen.com.
To learn more about David Waters and Alluvial Capital please visit www.alluvialcapital.com. 

Ever wonder how things get sold on Amazon? Are the reviews you read even real? How does one brand figure out the Amazon Marketplace where so many others fail? In this episode, we sit down with Ethan McAfee, the founder, and CEO of Amify.
Our listeners will hear exactly how Amify grew from a niche PickleBall paddle reseller, what it means to build a brand on Amazon, and so much more.
For more information on the host please visit www.thinkaen.com.
To learn more about Amify please visit www.goamify.com. 

Follow Richard on the wonderful story of FirstTime Design, a niche e-commerce retailer of home furnishings. In this episode, we sit down with Andrew Bass of FirstTime and learn about the company’s transformation from a niche clock retailer into a leader in the Wayfair and Amazon Marketplace.
To learn more about the Amazon Marketplace please listen to our Podcast with Ethan McAfee found here.
To check out some FirstTime Design products please visit their Amazon site here.
To listen to an interview with Andrew and CEO Christopher Bering please click Geo Investing Link.

Due to popular demand, Richard sits down with Michael Mitchell to discuss his thoughts on overlooked, unloved and orphan stocks. A self-proclaimed shitco investor, Michael will share his expertise on what differentiates the winners from the losers. 
Michael will also discuss well known Capital Allocators, SPACs, Management Incentives and so much more. 
To learn more about Richard please visit www.thinkaen.com.
To follow Michael on Twitter check out @IgnoreNarrative.