Internships and mentorship

Since announcing the fund, I've had several dozen messages about internships. Sadly, there’s no way I can get back to you all personally while I get the fund up and running, so please forgive me for stating my position here instead.

About Cadoc

Cadoc Capital is a concentrated global micro-cap fund, run from Kagoshima, Japan. I invest in around 10 businesses at a time, anywhere in the world, generally with a market cap under $500m. At a high level, I am trying to find businesses where I can say yes on three things: is it a good business (Quality), is it becoming a great one (Trajectory), and is it cheap (Asymmetry)? If you’d like a much more detailed outline of the types of companies I look at, see this article.

At the moment, Cadoc is just me. Before Cadoc, I completed an MBA at Stanford GSB, where I served as CIO of the student investment fund. I interned at Capital Group, was an analyst at Breakout Investors, a micro-cap research community, and, before finance, was a civil engineer at Skanska.

What I can and can’t offer

I can't offer employment of any kind. I don't have the budget for paid roles, and unpaid arrangements in which you do real work for a firm are unlawful in most jurisdictions (including informal internships). I also don't have the capacity to supervise people learning public market investing.

For a small number of people, I can offer mentorship. I can't assign tasks or set deadlines, but feel free to research companies that interest you and write them up; the work is entirely yours. You pick the companies, keep the output, and use it however you like, whether that's your own portfolio, job applications or publishing. I'll give you honest feedback. If I like your work, I’m happy to give research guidance and career advice.

How to be considered

If you’d like, send me your pitch on a company with a market cap under $500m (two pages at most) that answers the three questions above. I read everything and reply to the strongest work.

NOTE: I don’t mind you using AI to help write a pitch, but I will likely respond only to people who bring unique insights or conduct differentiated research or analysis.

You can send it to: info@cadoccapital.com.