Saj Karsan
Long only, deep value, contrarian

Dacha: New And Improved Management

(Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.)

For a few years now, Dacha Strategic Metals (OTCPK:DCHAF) has languished at a massive discount to its book value, and with good reason. Its previous management was a one-trick pony, having invested the bulk of the firm's assets in rare-earth metals. While this made them look like geniuses in the 2011 rare-earths bubble, the subsequent bursting of that bubble revealed these speculators for what they are: poor capital allocators.

If this same management team were still in charge of Dacha, I would probably not...

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