It's an extreme value opportunity in this overpriced market. Buffett, along with most institutions, can't. The barriers to entry for institutional investors help create this unique opportunity.
Tandy Leather Factory (TLF) is an illiquid (286 shareholders) micro-cap. A specialty physical store retailer in the dying niche of leather crafting. But I see a consistently profitable, ignored, and oversold opportunity, driven by a new CEO with a board of prudent patient strategic capital allocators. TLF sells leather, leather crafts, and related supplies. It's in 42 states, 7 Canadian provinces, 115 North American stores. Spain is the