• If the business doesn’t have engineering or branding problems.
  • Always look at cashflows of small and mid companies
    • This cashflow should generally be positive
    • Cashflow should be a sum of cash from operating activity and cash from investing activity
  • Industry growth rate of core products should be high
  • Understand the story behind the numbers
  • Price volatility will be high and its okay
  • No red flags on investor holding
  • Understand how the company makes money
  • Why can the firm grow?