There are small-cap companies. And then there are really small-cap companies — those with market capitalisations so minuscule that many mainstream investors are blissfully unaware of their existence. Occasionally these "microcap" companies —counters like Indequity and SilverBridge — have promising (and simple) business strategies, but preclude wider investment acceptance because of a dismal free float in their issued shares.I have friends who have nibbled away patiently at counters like SilverBridge and Indequity, knowing full well that sporadic trading in the share means there is no quick exit from these investments. To date those determined investors are quite content and liquidity concerns have been pacified by solid returns.The problem with buying into promising "microcap" companies is that the market tends to remain oblivious for long spells to their steady profit performances. Even when dividends start to flow consistently, an overriding wariness can still pervade sentiment. S...
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