A Club Conversation with Rich Beaven, Cyclicals with a Catalyst

This discussion took place live on March 16th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - microcapclub.com/#join (youtube.com/redirect?event=video_description&a…)
In this in-depth interview, Rich Beaven, principal and co-owner of Signia Capital shares his journey into value investing, his approach to catalysts, industry focus, and how AI is transforming investment research. Gain insights into his investment philosophy, portfolio management, and the evolving landscape of small-cap investing. Signia Capital ranks in the top 1% of all US equity strategies in eVestment database trailing 5.25 years as of 12/31/2025.
Signia Capital’s Website - signiacapital.com
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✉️ David’s X (Twitter) - x.com/Valuehunte (youtube.com/redirect?event=video_description&a…)
Chapters
00:00 Introduction to Rich and Value Investing
03:44 Catalysts in Value Investing
07:01 Identifying Secular Growth vs. Fads
09:51 Transitioning to Principal and Co-Owner
12:32 Investment Strategy and Position Sizing
15:59 Execution and Management Interaction
18:53 Portfolio Management and Turnover
21:55 Determining Intrinsic Value Targets
32:47 Investment Strategies Across Industries
33:46 Qualities of an Ideal Business Partner
35:00 Insights from Board Membership
36:32 Maintaining Objectivity as an Investor
39:55 Current Investment Focus: Commodities and Industries
44:36 Navigating Liquidity in Investments
46:51 Idea Generation and Portfolio Management
50:46 Scaling a Fund: Advice for Emerging Managers
52:35 Leveraging AI in Investment Analysis
56:43 The Future of Investment Roles with AI
01:00:21 Personal Evolution as an Investor
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