1/2 Our next two MultiBagger Cliff Notes will not be behind a paywall. We are incredibly grateful for the support our followers continue to give us. When I started investing full-time over three decades ago, I never imagined I’d be in this position. Your support motivates our team, every day, to keep turning over rocks, refining our process, and finding new ways to help you get more out of your investing journey. - Maj Thank you 🙏

The legends like Peter Lynch, Buffett, Greenblatt, you name it. .. did it the old-fashioned way when there was no AI… no shortcuts. Make sure to master the manual investing process before thinking that AI is going solve all your MultiBagger problems. mscliffnotes.substack.com/p/…

Today, $EACO Becomes the 76th stock to reach MultiBagger status in the MSMqi… -A sleepy OTC stock, in a boring business, that only puts out four releases per year. -Every quarter has been a record since 2022. -$400M in revenue and very profitable. -From $18 to $110 in 5 years.

$OCC Strong Q2 FY26 Results - Sales 26.6% to $22.2M - EPS $0.12 vs –$0.09 LY (Operating Leverage) - Backlog $13.3M, 27% since Q1 and 82% since fiscal year-end - Operating leverage they'd promised for years finally showed up. Backlog says momentum continues. $TPC New Data Center Contracts - Fisk Electric subsidiary won a $48M electrical contract for a Houston advanced-manufacturing & data center facility. - Heavy AI-hardware focus, completion targeted end of 2026. Hits Q2 2026 backlog. More evidence of the data center capex wave. - Management also signaled more to come on data centers, exploring ways to expand the work, with a strategy update expected before 2026 is out.

Good way to start the week after a tough Friday. MSMqi holding $OCC Q2 finally highlights operating leverage with only a slight tick up in sales outside the company’s recent high revenue performance of ~$19M. Data center angle finally drives growth. Sales up 26%… EPS prints 12C vs loss on only a 300 BP rise in GM, YoY…. OPEX as % of sales decreased sequentially from 33% to 27%. Strong backlog infers growth will continue. app.microcapresearch.com/new…

As Peter Lynch said, understanding if management knows the competition is an important research step. For example, I asked the CEOs of $TGEN and $CGEH about each other’s businesses. After some Claude analysis, I asked $PPIH to proof point some of their competitive advantage claims. During a virtual conference, I asked subsea player, $MIND, to evaluate $CODA and $KLNG from a competitive or channel partner point of view. The CEO of another stock I own told me that he decided not to beef up his marketing staff to drive sales on $AMZN … instead choosing to spend a few hours just mirroring the way the leading competitor set up its AMZN pages (and it worked). I’ll also ask management to be specific on who their publicly traded comps are. Sometimes you’ll get great “buy recommendations” after your discussion. Understanding the competition in stocks you own is also key from a business development point of view. For example, understanding $KTEL and $ATGN helped me figure out how connecting them could translate into them doing business together.. resulting in revenue for one company and cost savings for another. Just connected KTEL and $CXDO. CC: @MSmicrocaps @InfoArbMonitor @GeoInvesting

Here’s some Substack authors we’ve interviewed via Skull Sessions or personally met / conversed with that we highly recommend you check out. They focus on quality, in depth analysis and are good peeps. @AurelionRsch @Pixelresearch_ @GfI_Himmelreich @AKWilk @Mike10947310 @TheBigBerbowski @StockJabber @dgkunze1 @realLigerCub @leevalueroach @DeepSailCapital @QTRResearch @SebKrog @bmb21 @Investing501 @yuvaltaylor @100baggers @pernasresearch @onecentinvest @CyclopSpaceTech @UnderlyingValue @HugoNavarroPer2 @Stocks_Stones @KyleAdamsStocks @SCMRE111 @realThomasNiel @smcap_thinking

A fun day of Skull Sessions recordings today: @DeepSailCapital on the current short selling environment and how to identify short squeezes; why he launched his Substack. @CodfishJohnny graciously offers his years of legal expertise to break down the Andrew Left conviction.

Like 3 years worth of membership to @majgeoinvesting's @MSmicrocaps and @GeoInvesting I'm convinced Maj hasn't adjusted for inflation in a decade.

Make sure you follow this new account on X: @MicrocapDr If “deep-dive research” had a dictionary definition, his handle would be next to it. He led last week’s @GeoInvesting Skull Session featuring $TOYO, and I got to see his research process firsthand. Impressive!

1/2 $NSYS is up over 40% over the last few days, after selling near book. Why? Possibly due to InfoArb on their Q1 earnings call - mentioning drone exposure, on top of the current positive news flow that wasn’t getting respect.

Our most consistent MultiBagger set-up: -Cos existing for 20 yrs. Longer the better. They have market presence & trusted customers -Intentionally reinventing -Indirectly reinvented from new market opportunities (i.e. AI) - Respectable sales growth dramatic operating leverage

We built our Microcap Quality Index for investors who believe markets generally rise over time and want a curated hunting ground of smaller-cap companies to research before, during, and after periods of market volatility.

Subject: $RELL & its entry into battery energy storage solutions (BESS); “Why read press releases” A reason I like consuming press releases is that they give me color on what companies are saying about industries of stocks I’m following. For example, I came across $SUUN this A.M. I’m not interested in the stock, but I wanted to read the release because it’s participating in BESS and provided some industry color. I’ve now created a real-time BESS filter using @InfoArbMonitor to get alerts on stocks mentioning BESS in their releases to see if I can find any legitimate Cos, and become more informed to help me diagnose $RELL’s opportunities in BESS. app.microcapresearch.com/new…

Favorite part of earnings season..

Would love to see $TATT pull back…

InvestorHound.com has been officially released. Find companies near you. Some use cases: -Map out site visits -While you’re at a conference, find Cos not attending that you want to meet -Find companies near your home base (idea discovery) Still working out some kinks