Success from specialisationOne of the main reasons for keeping an eye on the micro-caps, apart from the intrinsic delight of the sturm und drang that you find among the minnows, is that there’s plenty of upside in spotting one that’s getting big enough to enter the target area of the institutional investor. All of a sudden the weaponry that can be directed at the target goes from small calibre to full bore, and all it takes is for one decent-sized player to decide to have a go and the price will take off.

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