Describes the author’s approach to investing in micro- and small-cap companies: consistent earnings growth drives the stock price over the long term. As a rule of thumb for estimating time to double an investment, divide the growth rate into 72 (e.g., 72 / 8 pct per annum). Moe looks for ‘megatrends’ to fuel top-down (tailwind) help and the ‘4 Ps’ (people, product, potential, predictability) for bottom-up analysis. Something of a contrarian, he is willing to pay a high P/E rate — if earnings growth is consistent — and shuns diversification for its own sake. Chapter 7 (and an appendix) on valuation usefully covers DCF, PEG, and price/sales ratio.