Episode #526
Own Less, Know More with Jeremy Kokemor, Founder and Portfolio Manager at Right Tail Capital
In this episode of the Planet MicroCap Podcast, I spoke with Jeremy Kokemor, Founder and Portfolio Manager at Right Tail Capital, to dig into how two decades inside institutional investing shaped a concentrated, quality-focused approach he now runs on his own terms. We break down his framework for owning roughly fifteen high quality businesses at a time, why returns on capital are central to how he evaluates businesses, how he's thinking about AI both as a research tool and as a threat to the companies he owns, and what covering small cap metals and mining at T. Rowe Price taught him about the wide quality spectrum in public markets. We also get into his process for knowing when a thesis has broken - being patient when the thesis is intact, but moving on the underlying thesis has genuinely broken. For more information about Jeremy Kokemor and Right Tail Capital, please visit: https://www.righttailcapital.com/ Chapters: 00:00 Introduction to Jeremy Kokemor and Right Tail Capital 02:06 Jeremy's background and early influences in investing 04:50 Jeremy discusses his transition from institutional to independent investing 11:00 Starting Right Tail Capital: motivations and timing 16:46 Defining quality and evaluating distressed assets 22:24 Research process and team building at Right Tail 24:31 The role of AI in research and decision-making 26:50 AI's potential to disrupt or enhance current holdings 33:58 Portfolio construction and new investment evaluation 36:39 Lessons from past investment mistakes and exits 41:04 Jeremy's best decision and personal stories 44:00 Influence of poker on investment strategy 46:39 Future outlook on AI and investment opportunities 48:28 Where to follow Jeremy and learn more Planet Microcap hosts the highest quality in-person microcap events in North America. The mission is to bring the best microcap investors, companies, and allocators together to gather, connect, and grow.; visit https://planetmicrocap.com/ to learn more about our Las Vegas and Toronto events. This presentation is for informational purposes only and should not be construed as a recommendation to purchase or sell any security referenced herein. Planet MicroCap Holdings LLC and MicroCapClub LLC (collectively, “we” or “our”) are not licensed brokers nor registered investment advisors. We, our partners, contractors, members, subscribers, guests, or affiliates may or may not hold positions in one or more of the securities mentioned in this presentation and may trade in such securities at any time. We may have received cash compensation from one or more participants for presenting at past, present, or future events. We recommend you consult a licensed investment adviser, broker, or legal counsel before purchasing or selling any securities referenced in this presentation.
