A Quick Guide to Investing Conferences

My version

I think we can all use a nice break from the tariff chaos….

As I prepare to attend the Planet Microcap conference soon, I've been reflecting on my experiences at similar events over the years. While I wouldn't call myself an expert, I'm certainly beyond being a complete novice.

I still vividly remember my first investor conference at LD Micro back in 2015 – a time that feels like a lifetime ago. Before that, my experience was limited to attending AGMs and site visits, where I gained some initial experience in questioning management. That first conference was truly eye-opening. To begin with, I had confidently volunteered to arrange lodging and then proceeded to book a terrible Airbnb. Adding to the memorable (for the wrong reasons) start, I also organized a site tour for a company led by a problematic CEO. Despite these early mishaps, the conference itself left a lasting positive impression.

Many of you reading, may or may not have already attended an investors conference but here is what I wish I knew before that first conference:

1. Be Prepared for the Venue:

The venue will likely be unfamiliar. Take the time to familiarize yourself with its layout. Either arrive early or consider doing a dry run the day before. The worst feeling is being late for a scheduled meeting because you're lost. If the organizers don't provide one, print out the conference agenda yourself.

2. Manage Your Schedule Effectively:

Don't feel pressured to cram in an excessive number of meetings each day. I've learned the hard way that overloading my schedule doesn't necessarily add value. I would have been better off focusing on fewer, more meaningful meetings and preparing thoroughly for them, rather than rushing through a brain-draining marathon. Furthermore, scheduling four consecutive hours of back-to-back meetings significantly increases the likelihood of being late, which is disruptive and disrespectful to others. Just like those who brag about reading numerous books but retain little, it's more beneficial to have a few focused interactions and learn something meaningful.

3. Be Prepared for Each Meeting:

This means researching the companies you're meeting with and knowing what questions to ask. As someone who prefers a tangible approach, I print out relevant information and organize it in a binder. This pre-conference work is crucial. You have limited time with management, so make it count. Remember, you only get one first impression. Right or wrong, that impression can significantly influence how you are perceived as an investor. Without thoughtful questions, you're unlikely to receive insightful answers.

4. Be Respectful of Other Investors in Meetings:

If you operate in similar investment circles, you'll likely share meetings with other investors. Be considerate of them and their time. While you might have more experience or specific knowledge about a particular business, allow them to have their turn to speak and ask questions. The investment community can be small, and your reputation for being respectful is more valuable than any single year's return.

5. Network, Network, Network:

Investor conferences are excellent opportunities to connect with other investors. Beyond being respectful during meetings, take the time to get to know them. They may offer different perspectives or have additional insights into companies that you hadn't considered. I've often gained as much valuable information from conversations with other attendees as I have from the formal meetings. This network can be an invaluable source of potential investment ideas.

6. Be Kind to Yourself:

I was incredibly nervous at my first conference. At the time, I was still wearing work coveralls and using tools for a living. The white-collar world felt intensely intimidating, and conversations with finance professionals sometimes felt like deciphering a walking dictionary. However, everyone starts somewhere. Focus on making small improvements each time, and you'll see significant progress over time.

I recall once asking a trusted friend for feedback after a management meeting. He pointed out that I had repeated the same word excessively, giving the impression that I either lacked vocabulary or was stuck on repeat. While it was difficult to hear at the time, I'm now grateful for his honest feedback.

7. Consider Seeking Out a Mentor:

If you know someone you respect who will be attending the conference, consider asking them directly for guidance. There's no shame in learning from someone with more experience. In fact, it can significantly accelerate your development. They can provide structure to some meetings and point out things you might miss. If you're fortunate, you might even be able to observe them asking questions and learn from their approach.

8. Etiquette Matters:

This might sound like old-fashioned advice (and some older individuals aren't great at this either), but please remember your manners. Don't answer your phone during a meeting unless it's a genuine emergency, and if you must, excuse yourself. When speaking with other investors, don't dismiss their opinions on your companies. Listen to their points. If you have something to say that isn't constructive, it's best to keep it to yourself.

Closing Thoughts

Attending an investor conference can provide valuable insights into a variety of businesses and is an excellent opportunity to build your network with other investors. Many of my potential investments have come from casual conversations at these events. Like anything worthwhile, it's important to gain dedicated practice.

What do you think? Did I miss anything? If you have attended a conference, I would love to hear about it.

Thanks for taking the time to read my work.

Dean