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 - https://microcapclub.com/#join

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 - https://www.signiacapital.com/ 

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✉️ David’s X (Twitter) - https://x.com/Valuehunte 

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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