The Acquirers Podcast · Thursday, September 17, 2026
Ian Cassel explains how to distinguish between fanatical investors and promoters by observing their response to data. Fanatics are obsessed with their thesis and dismiss contradictory evidence, while promoters are more focused on selling the stock, potentially misrepresenting information.
“And, you know, I think the fanatical investor, they're just obsessed with the thesis. They're obsessed with the story, they're obsessed with the narrative, and they don't want to hear anything that contradicts that thesis.”
“And, you know, the promoter, on the other hand, they're more concerned about selling the stock, right? They're more concerned about, you know, getting their audience to buy into that stock, and they're not necessarily as concerned about the long-term prospects of that company.”
“So, I think the key is, you know, look at how they respond to data. Look at how they respond to contradictions. Look at how they respond to, you know, bad news. And, you know, if they're dismissive of that, then they're probably more of a fanatic or a promoter.”