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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post What AI, Tariffs, and Global Uncertainty Mean for Your Portfolio – Ep 285 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post When to sell a stock: The Art and Psychology of Selling – Ep 284 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post On AI Eating The World – Ep 283 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post 10 Life Lessons I Passed On to My Daughter on Her Bat Mitzvah – Ep 282 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Q&A: From Imposter Syndrome to Authenticity – Ep 281 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Church of Climate and the Law of Unintended Consequences – Ep 280 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Q&A Money Should Buy Time, Not Things – Ep 279 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Our Sistine Chapel: Long-Term Investing in Quality and Kindness – Ep 278 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post On Books, Music, and Investing – Ep 277 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Living and Investing with Intention – Ep 276 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Q&A Series: Managing Market Pressures and Evaluating Serial Acquirers – Ep 275 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Learning to See – Ep 274 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Operation Molly – Ep 273 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Surrounding Yourself with Greatness – Part 2 – Ep 272 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post From Paris with Love, from London with Concern – Part 1 – Ep 271 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Q&A Series: Research Process, Evaluating Country Risk and Tech Investments – Ep 270 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post London and Scotland: Musicals, Markets, and Memories – Part 3 – Ep 269 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Ability to Suffer – Part 2 – Ep 268 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Art of Rational Irrationality – Part 1 – Ep 267 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post My Article in The Wall Street Journal – Ep 266 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Why Smart Investors Should Sit Out the AI Arms Race – Ep 265 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Cost-Plus Capitalism: Lessons from HII and the Future of Naval Shipbuilding (Part 5) – Ep 264 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Why We Bought Aker BP: A Technology-First Oil Company (Part 4) – Ep 263 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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My conversation with Charlie Kirk: https://thecharliekirkshow.com/podcasts/the-charlie-kirk-show/stoicism-and-the-soul-with-vitaliy-katsenelson

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Charlie Kirk and the Cost of Courage – Ep 262 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Skin in the Game, Steam in the Ground (Part 3) – Ep 261 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Inside Baseball: How We Build Portfolios (Part 2) – Ep 260 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Skating on Thin Ice: Discipline, Doubt, and the Long Game (Part 1) – Ep 259 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Baltics, Europe’s Pragmatic Rising Stars – Ep 258 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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Q&A Breakfast on May 1, 2026 sign up link: https://investor.fm/lets-get-together-in-omaha/

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Warren Buffett and the Berkshire Hathaway Paradox – Ep 257 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Redefine “value” in this era of the US stock market – Ep 256 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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Tesla, Elon Musk and the EV Revolution link: https://investor.fm/tesla-elon-musk-and-the-ev-revolution/

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post A Brief Rant on Tesla & Musk – Ep 255 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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IMA Annual Client Meetings – https://investor.fm/client-dinners/

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post 2025 IMA Annual Client Meeting appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Current Thoughts on Tesla – Ep 254 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Europe Can’t Hide Behind America Anymore – Ep 253 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Reputational Bankruptcy of the American Dollar – Ep 252 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Tariffs, Debt, and a Recession by Design – Ep 251 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Paranoid Russian Jew Approach to Investing – Ep 250 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post It Is Not the Cards You are Dealt; But is How You Play Them – Ep 249 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Q&A Series: Diversification and Position Sizing in Investing – Ep 248 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Hidden Advantages of Investing from NOT New York City – Ep 247 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post DeepSeek Breaks the AI Paradigm – Ep 246 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Escaping Stock Market Double Hell – Ep 245 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Embracing Stock Market Stoicism – Ep 244 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Thoughts from Consumer Electronics Show – Ep 243 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Q&A Series: Money Habits for Kids and the Power of Writing – Ep 242 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Managing a Million: What Would I Do Differently? – Ep 241 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Impact of Higher Interest Rates on the Economy – AI Edition – Ep 240 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Navigating Market Cycles: From Bulls to Nvidia – AI Edition – Ep 239 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post A Balanced Life: My Approach – Ep 238 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

If you were obliged to invest all your investable assets with one person and you couldn’t choose Warren or Charlie, whom would you pick?

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Choosing an Investment Manager: Beyond Warren and Charlie – Ep 237 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Q&A Series: On Parenting and Personal Growth – Ep 236 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Challenging Investment Rules and Key Investor Traits – Ep 235 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Infinite Game in Telecom – Ep 234 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

A basic property of religion is that the believer takes a leap of faith: to believe without expecting proof.

Read the article here: https://investor.fm/the-hidden-risk-in-religion-stocks-2/

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Hidden Risk in “Religion” Stocks – Ep 233 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I’m going to share stories about my best and worst investment decisions. But don’t worry, this isn’t just a brag-and-cringe session about making or losing money.

Read the article here: https://investor.fm/the-best-and-worst-investment-decisions-ive-made/

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Best and Worst Investment Decisions I’ve Made – Ep 232 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

At the end of July, Donald Trump went full Bitcoin. He wants the US to become a “Bitcoin superpower”; he promised to build a Bitcoin strategic reserve.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Trump’s call for a bitcoin strategic reserve is a very bad idea – Ep 231 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

How does our investment approach stack up against Warren Buffett’s? Answering this question gives me a chance to dissect Buffett’s famous investment principles and compare them to our own strategy.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Unpacking Buffett’s Investment Philosophy: A Personal Perspective – Ep 230 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

How do I describe myself as an investor? This question provides an opportunity to delve into what I mean by being an “eclectic value investor with a slight touch of dogmatism.” It’s a comprehensive look at our investment philosophy and approach.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Eclectic Value Investor – Ep 229 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

The discussion of AI quickly falls into a domain bordering on Sci-Fi. My thoughts here are only marginally shaped by scientific facts.

If you look at technological progress over the centuries through the lens of productivity, the improvement was tiny, barely noticeable. Our ability to do the same tasks maybe improved a few basis points a year for millennia. People figured out fire, learned how to use levers, and created a wheel.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The AI Revolution – Ep 228 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The EV Industry Landscape – Ep 227 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Understanding Today’s Economic Landscape – Ep 226 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

There’s a quote often attributed to Albert Einstein: “Insanity is doing the same thing over and over again and expecting different results.” As an investor, especially if you manage someone else’s capital, you have to be slightly insane.

During market manias, time slows down to dog years. You have to keep doing the same (rational) thing but expect a different outcome, knowing that at some point it will come.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Lessons from History’s Technology Booms – Ep 225 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Science Fiction Stock Analysis – Conversations with Vitaliy – Ep 48 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Despite the S&P 500 showing gains in the mid-teens, the average stock on the market is either up slightly or flat for the year. Most of the gains in the index came from the Magnificent 7 stocks, which constitute 35% of the index!

The Magnificent 7 are starting to look like the Nifty Fifty stocks from the 1970s (Kodak, Polaroid, Avon, Xerox, and others) – stocks you “had to own” or you were left behind – until all your gains were taken away or you faced a decade or two of no returns. Forty years later, it’s easy to dismiss these companies as has-beens. They’ve all either gone bankrupt or become irrelevant. But back then, they were the stars of corporate America, just like the Magnificent 7 are today.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Magnificent 7 and the Dangers of Market Hype – Ep 224 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post What Makes for a Great Investor? – Conversations with Vitaliy – Ep 47 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Right Way To Think – Conversations with Vitaliy – Ep 46 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Benefits of Travel- Conversations with Vitaliy – Ep 45 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

My daughter Hannah was just accepted to University of Denver. She might take out student loans. Why wouldn’t she?

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Slippery Slope Of Student Loan Forgiveness – Edition 2024 – Ep 223 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Crash Course in Failure – Conversations with Vitaliy – Ep 43 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

This week, I am going to share with you two essays that I wrote a few years ago. I want you to see this country through the eyes of an immigrant. If you were born here, you have only seen prosperity, making it more likely for you to take what you have for granted. We tend to not appreciate what we have until we lose it.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post 30 Years in America – Edition 2024 – Ep 222 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Right Way To Think – Conversations with Vitaliy – Ep 42 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

When in the past I described my trip to the Berkshire Hathaway annual meeting to others, I often found that I contradicted myself. I said I was going to see Warren Buffett and Charlie Munger speak, and then I said that their presentation was the least important part of the trip. 

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Rediscovering the Essence of the Berkshire Hathaway Annual Meeting – Ep 221 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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Soul in the Game – https://amzn.to/43CF73v

The Little Book of Sideways Markets – https://amzn.to/3QWTlqZ 

Active Value Investing – https://amzn.to/3u8zn3A

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post What If You Had To Do It Over Again? – Conversations with Vitaliy – Ep 41 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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Active Value Investing – https://amzn.to/3u8zn3A

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📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post You Are Missing This Skill – Conversations with Vitaliy – Ep 40 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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Active Value Investing – https://amzn.to/3u8zn3A

My Key Links

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🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post You Can’t Be Good at Investing Without Knowing This – Conversations with Vitaliy – Ep 39 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Read the full article here: https://investor.fm/dad-you-are-not-growing-embracing-vulnerability/

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My Key Links

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🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Dad, You Are Not Growing! (Embracing Vulnerability) – Ep 220 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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My Key Links

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🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Take Control of Your Life – Conversations with Vitaliy – Ep 38 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I took a stand when I spoke about Israel, here is why I did it.

Here are all my articles about Israel: https://investor.fm/?s=israel

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Stand For Something in Life – Conversations with Vitaliy – Ep 37 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Read my full article about AI here: https://investor.fm/my-thoughts-on-ai/

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Active Value Investing – https://amzn.to/3u8zn3A

My Key Links

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🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Hedging The Portfolio With Weapons Of Mass Destruction – Ep 219 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

If you want to learn more about Soul in the Game, you can a copy of my book here: https://amzn.to/43CF73v

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Active Value Investing – https://amzn.to/3u8zn3A

My Key Links

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🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Skin in the Game vs Soul in the Game – Conversations with Vitaliy – Ep 36 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Despite weakness in cable stock prices, our thesis on Charter Communications (CHTR) and Comcast (CMCSA) has not really changed. We made a small, superficial change in the portfolio.

Read my full article about AI here: https://investor.fm/my-thoughts-on-ai/

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My Key Links

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🐦 Twitter – https://twitter.com/vitaliyk

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Cable Stocks Keep Getting Punched In The Mouth – Ep 218 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

AI is changing the way we live our life, and investing is no different. Here is how AI will change investing in my eyes.

Read my full article about AI here: https://investor.fm/my-thoughts-on-ai/

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My Key Links

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🐦 Twitter – https://twitter.com/vitaliyk

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post How will AI Change Investing? – Conversations with Vitaliy – Ep 35 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

One of my principles in life is to have a net positive impact on the people I touch. If every single stock I discussed only went straight up, I wouldn’t have to worry about it. But this is not how life works.

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post No Shortcuts To Greatness: The Path To Successful Investing – Ep 217 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

A reader of mine recently asked me how I would construct the optimal portfolio. Here is how I would do it. 

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Construct the Optimal Portfolio – Conversations with Vitaliy – Ep 34 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

You don’t have to worry about the market and its crazy valuations. That’s your neighbor’s problem, not yours. In building your portfolio, we are aiming for resilience.

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My Key Links

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Investing In A New Era Of Global Tensions – Ep 216 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Here are 4 Mental Models That Will Change Your Life:

• 𝗜𝗻𝘃𝗲𝗿𝘀𝗶𝗼𝗻 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 (𝗜𝗻𝘀𝗽𝗶𝗿𝗲𝗱 𝗯𝘆 𝗖𝗵𝗮𝗿𝗹𝗶𝗲 𝗠𝘂𝗻𝗴𝗲𝗿)
• 𝗗𝗶𝗰𝗵𝗼𝘁𝗼𝗺𝘆 𝗼𝗳 𝗖𝗼𝗻𝘁𝗿𝗼𝗹
• 𝗗𝗮𝘃𝗶𝗱 𝘃𝘀. 𝗚𝗼𝗹𝗶𝗮𝘁𝗵
• 𝗙𝗶𝗿𝘀𝘁 𝗣𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲𝘀 𝗧𝗵𝗶𝗻𝗸𝗶𝗻𝗴 (𝗟𝗲𝗮𝗿𝗻𝗲𝗱 𝗳𝗿𝗼𝗺 𝗘𝗹𝗼𝗻 𝗠𝘂𝘀𝗸)

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My Key Links

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post 4 Mental Models To Change Your Thinking – Conversations with Vitaliy – Ep 33 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Today EV sales account for a tiny rounding error of total global car sales. Can traditional automobile companies successfully transition to making EVs?

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MY KEY LINKS

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🔗 Business Website – https://imausa.com/

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Why the Survival and Dominance of Car Manufacturers is Far from Certain – Ep 215 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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Active Value Investing – https://amzn.to/3u8zn3A

My Key Links

🌍 My website/blog – https://investor.fm/

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🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Will Your Kids Remember You? – Conversations with Vitaliy – Ep 32 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

My brother Alex, my son Jonah, and I went to a conference in Switzerland. We saw this as an opportunity to turn the bookends of the trip into a small European vacation.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Expanding Perspectives Through Travel – From Spain to the UK – Ep 214 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post This Advice Will Rewire Your Brain – Conversations with Vitaliy – Ep 31 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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The Little Book of Sideways Markets – https://amzn.to/3QWTlqZ 

Active Value Investing – https://amzn.to/3u8zn3A

My Key Links

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Real Definition of Wealth – Conversations with Vitaliy – Ep 30 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Use these stoic tools to become a great investor.

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My Key Links

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Stoic Tools to Become a Great Investor – Conversations with Vitaliy – Ep 29 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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Active Value Investing – https://amzn.to/3u8zn3A

MY KEY LINKS

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🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post How To Invest Your First $100 in Under 2 Minutes – Conversations with Vitaliy – Ep 28 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Our society looks at abundance only from a positive perspective; however, it also has a very dark side. If scarcity is a disease that inflicts people in socialist countries, overabundance is a sickness prevalent in capitalist ones.

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Power of Constraints – Conversations with Vitaliy – Ep 27 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Today, you will listen to parts 3&4 of my Israel essay. 

🚨 If you prefer to read the full essay, here it is: https://investor.fm/antisemitism-and-wokeness-threaten-the-future-of-israel-and-america/

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Antisemitism and Wokeness Threaten the Future of Israel and America – Part 3 & 4 – Ep 213 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Today, you will listen to parts 1&2 of my Israel essay. Tomorrow you will hear parts 3&4. 

🚨 If you prefer to read the full essay, here it is: https://investor.fm/antisemitism-and-wokeness-threaten-the-future-of-israel-and-america/

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Antisemitism and Wokeness Threaten the Future of Israel and America – Part 1 & 2 – Ep 212 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post 10 Lessons in Investing Mastery – Conversations with Vitaliy – Ep 26 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

This is the concept that got me into stoicism. Dichotomy of Control.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Are You In Control? – Conversations with Vitaliy – Ep 25 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The Rise and Fall of Russia – Conversations with Vitaliy – Ep 24 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Never Run Out of Ideas – Conversations with Vitaliy – Ep 23 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

This is my fireside chat with the CFA Society in Richmond, Virginia. We discussed the power of writing, stoicism in investing, and becoming the best investor you can be. 

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post CFA Richmond Fireside Chat with Vitaliy Katsenelson – Ep 211 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Here are the 5 value investing mistakes to avoid. 

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The 5 Value Investing Mistakes to Avoid – Conversations with Vitaliy – Ep 22 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Charlie Munger’s Rules For a Good Life – Conversations with Vitaliy – Ep 21 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Learn, Adapt, Conquer – Conversations with Vitaliy – Ep 20 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Think Like a Writer – Conversations with Vitaliy – Ep 19 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I respect Warren Buffett, but here is the one thing he got wrong.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post This is What Warren Buffett Got Wrong – Conversations with Vitaliy – Ep 18 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

The interview took place in April 2023 at Temple Sinai here in Denver. The discussion focused on my book Soul in the Game: The Art of a Meaningful Life. The living characters of the book are from my family, so having them in the audience was a bit surreal.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Broadening the aperture of how you look at life – Ep 210 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Looking to start writing? Here is the advice you need to get started. 

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WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post The Writing Advice You Desperately Need – Conversations with Vitaliy – Ep 17 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Innovation disrupts, but it also creates new jobs and improves the standard of living of society. AI will displace many jobs, but it will also empower people with new productivity tools.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post My thoughts on AI – Ep 209 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

What lessons do you want to leave behind for your kids?

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WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Lessons for My Kids – Conversations with Vitaliy – Ep 16 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I know young adults who have gone to Israel to fight to protect it from evil. I have friends who have put their lives on hold and gone to Israel to volunteer to help that country in any way they can. My pen is my gift. This is how I can make a difference. If I don’t stand up now, then when? When my family is sent to the gas chambers?

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Don’t Let History Repeat Itself – Ep 208 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I usually look forward to waking up every morning. My family is still asleep. I make a cup of coffee, put on my headphones, and write. But I wasn’t looking forward to mornings over the last week while I was working on this and tomorrow’s essays. It took me to a dark place where I did not want to go.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Israel is Not Hamas’ Final Solution – Ep 207 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Without a doubt, this is one of the most difficult things to do in a world dominated by technology. I hope my advice helps in some way. 

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WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post How To Teach Your Kids To Read – Conversations with Vitaliy – Ep 15 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this short video, I explain how walking can change your life.

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🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Why You Should Walk Everyday – Conversations with Vitaliy – Ep 14 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

How stoic philosophy changed the way I think about life.

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WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post How Stoicism Can Change Your Thinking – Conversations with Vitaliy – Ep 13 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

To understand what will happen in China and its impact on the global economy, we simply need to invert what happened over the last two decades.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post What happens in China may not stay in China – Ep 206 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

There are 5 investing books that I think everyone should read.

The Essays of Warren Buffett – Lawrence Cunningham

Fooled by Randomness – Nassim Nicholas Taleb

Antifragile – Nassim Nicholas Taleb

The Little Book of Behavioral Investing – James Montier

The Little Book That Builds Wealth – Pat Dorsey

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post The 5 Investing Books Everyone Should Read – Conversations with Vitaliy – Ep 12 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I am about to discuss a topic that, for reasons that are unclear to me, has been politicized: oil and gas. I am writing this as a pragmatic analyst who looks at two factors: supply and demand. After all, I am not hired by you (IMA clients) to come up with environmental policy but to grow your wealth.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

The post Our investments in oil and natural gas stocks – Ep 205 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Here is what you should look for when hiring someone.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post What You Should Look For When Hiring Someone – Conversations with Vitaliy – Ep 11 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I just finished a fifteen-page seasonal letter to IMA clients. It discusses the economy and the positioning of our stock portfolio, as well as China, fossil fuels, AI, and unions. I will share excerpts from it over the next few weeks, starting today with a section that discusses our thoughts on the economy.

Though the official purpose of writing this was to get you close to my thinking about the economy and the stock market, to be honest, I have very little new to say. I suggest you reread my succinct letter from March 2023.

I have written this more selfishly to crystallize my thinking. This way, you and I will figure out what I think together. Thus, the following reads more like a listicle rather than an essay where all thoughts must flow from one to another.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post My Thoughts on the Economy – Ep 204 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

When my wife and I got married, my friend Mark took us out to a lunch that forever changed my relationship with money.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Never Look at Money the Same Way – Conversations with Vitaliy – Ep 10 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

An update on the situation in Israel and my thoughts on unions.

Show notes:

• Listen to Alex (Ethan and Jacob’s father) interviewed by my friend Ross Kaminsky.
• Contribute here to save a life.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Unions: From Stimulant for the Economy to Cancer – Ep 203 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this episode, I highlight some of the most overlooked factors in investing. I discuss the importance of understanding financials and looking deeper into company culture and management. I provide examples of CEO excesses, like the case of GE CEO Jeff Immelt, and interesting examples, like the case of Amazon CEO Jeff Bezos.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post What You Overlook In Investing – Conversations with Vitaliy – Ep 9 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Reading is something I find extremely rewarding, so it is a pleasure to share five book recommendations and one bonus book with you. 

Book Recommendations:

Shantaram by Gregory David Roberts https://amzn.to/44qKqCe

How To Think Like A Roman Emperor by Donald Robertson https://amzn.to/3NEKlEd 

Atomic Habits by James Clear https://amzn.to/3NGeVgE

 Mindfulness by Ellen J.Langer https://amzn.to/3NKGghS

Lessons from the Titans by Scott Davis, Carter Copeland, and Rob Wertheimer https://amzn.to/3rknwhF

Alchemy by Rory Sutherland https://amzn.to/3D1bAUw

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post The 5 Books You Should Read – Conversations with Vitaliy – Ep 8 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Worried about the next recession? Don’t panic and listen to this.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Should You Worry About The Next Recession? – Conversations with Vitaliy – Ep 7 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Too often, people try to gamble rather than invest. Here is what I think the difference is between the two.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Stop Gambling and Start Investing – Conversations with Vitaliy – Ep 6 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

My father, Naum Katsenelson, passed away on August 10, 2023. Here is my ode to him.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post My Father – A Life Worth Living – Ep 202 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

If you are a young investor or interested in investing, I think you can benefit from my advice in this video.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 LinkedIn- https://www.linkedin.com/in/katsenelson/

🎥 Youtube – https://www.youtube.com/@vitaliyk

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post My Letter To Young Investors – Conversations with Vitaliy – Ep 5 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this video I break down the keys to becoming a great investor.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post How You Can Be a Great Investor – Conversations with Vitaliy – Ep 4 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Very often, people come to me asking for advice. Here is the advice I have to offer young people today.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Advice Every Young Person Needs To Hear – Conversations with Vitaliy – Ep 3 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Many people out there are afraid to start writing. Take a page from my book and stop fearing; get to work.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post My Writing Journey – Conversations with Vitaliy – Ep 2 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Apple is the best storytelling company on the planet. This was the thought that ran through my mind as I watched Apple present its new products at the WWDC conference.

When it introduces a product, Apple doesn’t just spend the time telling you what it will do for you; it directs as much effort to telling a very detailed story about how it made the product.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post The Power of Telling Stories – Conversations with Vitaliy – Ep 1 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

My father and I started taking my son Jonah to Santa Fe in 2003, and this was when I first wrote about it. I have been writing, rewriting, and adding to this essay for the past ten years. I repolished it and included it in Soul in the Game. This time, I decided to leave it untouched. I added new thoughts at the end after our 2023 pilgrimage to this wonderful little town in New Mexico. I hope you enjoy it.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Life is a Walk – Santa Fe – Ep 201 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In today’s letter, I want to address a question that I get asked at times: How do I get any research done since I travel a lot? And then I’ll explain the reasons for two next trips.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://investor.fm/disclosure/

The post How do I get any research done since I travel a lot? – Ep 200 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Many times, we bought because they were in their “junior year”; this is what made them undervalued. Our research led us to the conclusion that their difficulties were transitory and that as they matured the market would revalue them.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://investor.fm/disclosure/

The post The Growing Pains of Maturity – Ep 199 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Over the next two weeks, I will share with you a few excerpts from my 25-page summer letter to IMA clients. 

Next week, I will be comparing my children to stocks and divulging my latest thoughts on Uber and Qualcomm. 

My purpose in sharing these excerpts is to give you insights into the investment process, so they all have the same focus – to teach you how to fish, not to provide you with the fish. So please take them as such.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://investor.fm/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: htthttps://investor.fm/disclosure/

The post What is the Value of Apple? How do we evaluate risk? – Ep 198 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Over the last two decades, I have given talks on investing, mainly focused on my books, to CFA Societies around the world, from South Africa to New Zealand to Sofia, Bulgaria, and India in January of this year (you can watch that talk here). As a CFA, I love talking to fellow CFAs; we all share a common memory of the pain of three torturous years of preparing for and taking the CFA exam. A few weeks ago I was asked to speak to the CFA Association of Russia about my most recent book. Here is my reply: A year and a half ago, I would have eagerly taken the opportunity to speak to your members, especially since my book Soul in the Game has been translated into Russian. However, today, my heart is breaking as I witness what is happening in Ukraine. To give a presentation to your members without addressing the atrocities occurring there would be similar to giving a presentation in Berlin in 1942 and not mentioning the millions of people being killed by the Nazis in the Soviet Union. Unless I can also discuss the horrors of the war, which I am sure you would not want me to do, I cannot bring myself to speak to your members.  Sign up for my free weekly email newsletter https://vitaliy.substack.com/  Check out my weekly podcast, The Intellectual Investor. https://investor.fm/  GET MY BOOKS Soul in the Game – https://tinyurl.com/yzh486ep The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2 Active Value Investing – https://tinyurl.com/ywfczy8u MY KEY LINKS  My website/blog – https://contrarianedge.com/  Business Website – https://imausa.com/  Twitter – https://twitter.com/vitaliyk  Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book. Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Russia – History Repeats Itself – Ep 197 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

While I was watching Apple’s presentation, Meta’s Quest Pro (which I own for research purposes) suddenly started to remind me of Microsoft PCs – made by engineers for engineers, where the Vision Pro is created by humans for humans. 

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Vision Pro is the Vision of the Future – Ep 196 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Imagine withdrawing a job offer two days after it was made. This is exactly what we did.

IMA is hiring for an Operations Associate position, and after a lengthy hiring process, we offered the position to Sam (not his real name). However, two days later, we had to withdraw the offer. This is not our usual behavior, so I wanted to write an explanation to Sam.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post How Not To Lose a Job That’s Yours – Ep 195 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Apple is the best storytelling company on the planet. This was the thought that ran through my mind as I watched Apple present its new products at the WWDC conference.

When it introduces a product, Apple doesn’t just spend the time telling you what it will do for you; it directs as much effort to telling a very detailed story about how it made the product.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post A Story about a Story – Ep 194 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Good thoughts bring you happiness; bad thoughts poison you with anxiety and pain.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Attend a Party in Your Own Head – Ep 193 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I’ve been asked by many readers and some clients for my thoughts on the economy and recession. 

As I am typing this, I’m thinking about how much ink I should be spilling on writing about the recession and how much time we, as investors, should be allocating to thinking and worrying about it.

Firstly, our ability to predict it is very limited – the economy is a complex system and thus incredibly difficult to forecast. Don’t believe me? The Federal Reserve employs a few hundred PhDs who stare at economic data 24/7 and they have yet to get it right, even once.

Secondly, recessions are not a death sentence to the economy but a natural, transitory phase.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post You are – What you think about (Recession, Economy, Stock Market) – Ep 192 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I don’t know when I graduated to giving job-seeking advice. However, I know that my scribbles are read by a lot of students and their parents, so I thought I would share this with you.

📩 Sign up for my free weekly email newsletter https://vitaliy.substack.com/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Embrace Good Problems: Advice to Young People Today – Ep 191 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I’ve attended the Berkshire Hathaway Annual Shareholders meeting for over a decade. Here is what I learned in 2023.

📩 Sign up for my free weekly email newsletter https://contrarianedge.com/signup-for-articles/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post What I Learned From the Oracle of Omaha & Charlie Munger – Ep 190 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Many investors, including our clients, have been worried about their Schawb account safety. Are they right to be worried?

📩 Sign up for my free weekly email newsletter https://contrarianedge.com/signup-for-articles/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Should I be worried about the safety of my Schwab account? – Ep 189 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I have vague first memories of playing chess with my grandfather when my family visited my father’s parents in Moscow. I was five years old. As I look back, chess gently came in and out of my life in the years since. Though I always admired chess players, I never took the game too seriously, never studied or took lessons.

📩 Sign up for my free weekly email newsletter https://contrarianedge.com/signup-for-articles/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Chess Saga Continues – Ep 188 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

The fourteen-year-old Jonah could not sit through the annual meeting; he was preoccupied with anything and everything but Buffett’s and Munger’s wisdom. After coming with me to Omaha eight years ago, Jonah never asked to go back, until last year. He came to the meeting and loved it. He actually sat through almost all of the main event. He is coming with me again this year. 

📩 Sign up for my free weekly email newsletter https://substack.com/profile/6382475-…

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

The post Me, My Boy, and Warren Buffett with 2023 Postscript – Ep 187 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Bailouts of the banking system create social tension. Eventually, bailouts introduce so much risk into the system that failures and bailouts become too costly for the society to bear, government creates draconian rules trying to prevent them in future, which in turn kills innovation and the formation of new businesses, and the result is a stagnating economy.

📩 Sign up for my free weekly email newsletter https://contrarianedge.com/signup-for… 

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Libertarian’s (Unexpected) View on the Bailout of the Banking System – Ep 186 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Silicon Valley Bank (SVB) may be an extreme example, but it gave us a preview at a 100x magnification of what many banks are facing today. SVB is also a sad demonstration of how volatile deposits are. SVB was awash with deposits from its customers, mainly startups, raising money in the venture capital boom. 

📩 Sign up for my free weekly email newsletter https://contrarianedge.com/signup-for-articles/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game –  https://tinyurl.com/yzh486ep 

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Silicon Valley Bank’s Downfall: A Cautionary Tale of What’s to Come – Ep 185 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

This is part one of the winter seasonal letter I wrote to IMA clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before. Instead of conveying my message through storytelling, I tried to compress my thoughts into short sentences. I summarized some 50,000 words into about 1,000.

📩 Sign up for my free weekly email newsletter https://contrarianedge.com/signup-for-articles/

🎙 Check out my weekly podcast, The Intellectual Investor. https://investor.fm/

📚 GET MY BOOKS

Soul in the Game – https://tinyurl.com/yzh486ep 

The Little Book of Sideways Markets – https://tinyurl.com/4sdbr5f2

Active Value Investing – https://tinyurl.com/ywfczy8u

MY KEY LINKS

🌍 My website/blog – https://contrarianedge.com/

🔗 Business Website – https://imausa.com/

🐦 Twitter – https://twitter.com/vitaliyk

📸 Instagram – https://www.instagram.com/vitaliyk/

WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post The Stock Market, The Economy, Possible Outcomes, How to Invest – Ep 184 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

I recently traveled to a Swiss investment conference. The beauty, safety and serenity of Switzerland all come with embedded costs which I uncover in discussing the contrasts of India vs Switzerland, and seeing a country as a visitor vs a resident.

You can read this article online here: https://contrarianedge.com/hidden-costs-of-living-in-switzerland/

The Real Country of Contrasts: Our Unforgettable Trip to India article link: https://contrarianedge.com/the-real-country-of-contrasts-our-unforgettable-trip-to-india/

The post The Hidden Costs of Switzerland: What It Takes to Be Swiss – Ep 183 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

The words we use matter more than we think. While we have a tendency to use words that can inflame a situation, make it worse or more extreme, by deliberately choosing our words, we can craft our perception of things, people, and events. I explain how.

You can read this article online here: https://soulinthegame.net/false-sophistication-of-sophists/

This is a free chapter from Soul in the Game: https://soulinthegame.net/

The post The False Sophistication of Sophists – Ep 182 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In the hopes of gaining and keeping perspective on what truly matters over the Holidays, Vitaliy draws an excerpt from Seneca on treating our most precious commodity, time, with the respect it deserves.

You can read this article online here: https://soulinthegame.net/each-day-is-a-separate-life/

This is a free chapter from Soul in the Game: https://soulinthegame.net/

The post Each Day is a Separate Life – Ep 181 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy and his daughter Hannah visited India for a CFA society event.

The journey opened their eyes to the contrasts between the West and the sub-continent both in culture and India’s potential investment merits.

You can read this article online here: https://contrarianedge.com/the-real-country-of-contrasts-our-unforgettable-trip-to-india/

Soul in the Game link: https://soulinthegame.net/

See More Clearly With These Two Mental Models article link here: https://contrarianedge.com/see-more-clearly-with-these-two-mental-models/

The post The Real Country of Contrasts: Our Unforgettable Trip to India – Ep 180 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy gives an update on IMA’s investment in cable company Charter. After being punched in the face by a declining stock price, Vitaliy and his team did an extensive amount of additional research on the business and industry.

He believes IMA’s initial research was correct and will be proven out in time. Here’s why.

You can read this article online here: https://contrarianedge.com/why-were-confident-in-our-charter-investment/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Why we’re confident in our Charter investment – Ep 179 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy outlines how the conditions are ripe for a sideways market, something he knows about, having written two books on the subject.

He shares how to invest in sideways markets, and what to expect overall.

You can read this article online here: https://contrarianedge.com/stock-market-roller-coaster-prepare-for-a-decade-or-two-of-disappointing-returns/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Stock Market Roller Coaster: Prepare for a Decade or Two of Disappointing Returns! – Ep 178 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy is embarrassed to admit that he has at times felt Schadenfreude, “shameful joy”, upon seeing growth stocks decline.

But his stoicism and decency quickly kicked in, and he banished this destructive feeling. Here’s how.

You can read this article online here: https://contrarianedge.com/why-were-not-celebrating-the-vindication-of-our-investing-principles/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Herr Schadenfreude Is Not a Friend of Ours – Ep 177 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy highlights the collapse of FTX, and how this amalgamation of greed, leverage, and naive hope has proven the Crypto Tulip market to be worthless.

You can read this article online here: https://contrarianedge.com/how-greed-and-leverage-destroyed-the-crypto-tulip-market/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post How Greed and Leverage Destroyed the Crypto Tulip Market – Ep 176 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy updates listeners about his upcoming trip to India with his daughter Hannah. He is thrilled to speaking at the CFA Society of Mumbai, and he’ll then take a tour of few parts of that special country.

Next, Vitaliy updates the music that has influenced him most throughout his life, including what he listened to in 2022.

Enjoy!

You can read and listen to the music of this article online here: https://myfavoriteclassical.com/music-throughout-my-life-2023-edition/

The post Music Throughout My Life 2023 – Ep 175 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Think of everything you do in a day. Wake up, take your kids to school, drive to work, eat with your family, enjoy a stroll with your spouse, watch a movie, read a book. At some point, you will do each of those things for the last time.

In the second installment of his Holiday Series, Vitaliy explains how keeping the “last time” in mind helps us stay grounded and focused on the things that really matter.

You can read this excerpt online here: https://soulinthegame.net/last-time/

This is a free chapter from Soul in the Game: https://soulinthegame.net/

The post Holiday Series: Last Time – Ep 174 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In the first installment of Vitaliy’s Holiday Series, he dives into Stoic philosophy. Or more specifically, Stoic philosophERs.

He points out that even more important than knowing what they said and taught is internalizing it: putting the lessons into practice.

Join Vitaliy at the outset of his tour of these powerful frameworks.

You can read this excerpt online here: https://soulinthegame.net/knowing-and-doing/ This is a free chapter from Soul in the Game: https://soulinthegame.net/

The post Holiday Series: Intro to Stoic Philosophy – Ep 173 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Recessions, though unpleasant, are ultimately good for the economy. Like a forest fire, they clear out the dead wood and make way for new, healthy growth. But the boom of the last decade accumulated a great deal of kindling, and the coming recession might be deeper and longer than prior ones. Vitaliy shares why.

You can read this article online here: https://contrarianedge.com/why-non-transitory-recession-is-coming-and-how-to-face-it-as-an-investor/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Why non-transitory recession is coming and how to face it as an investor – Ep 172 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Everyone has seen home prices take off since the pandemic began. As work from home became a reality for many, Americans decided to live where they want. But now that the Fed has decided to hike rates, we have a combination of high prices AND high rates. Something has to give, and it will likely be worse than most expect. Vitaliy explains why.

You can read this article online here: https://contrarianedge.com/are-housing-prices-about-to-drop-a-value-investors-take/

The post Are housing prices about to drop? A value investor’s take – Ep 171 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy shares a collection of random thoughts on the Russian invasion of Ukraine. While they don’t add up to a coherent podcast with a beginning, middle, and end, they do point to an overall pattern: the war is not going well for Putin. Vitaliy shares his reasoning why.

Vitaliy’s Article Almanac 2021: https://contrarianedge.com/vitaliys-article-almanac/

War in Ukraine article links: https://contrarianedge.com/tag/war-in-ukraine/

You can read this article online here: https://contrarianedge.com/random-thoughts-on-the-russian-war-in-ukraine-hint-its-not-going-well-for-russia/

The post Random Thoughts on the Russian War in Ukraine (Hint: It’s Not Going Well for Russia) – Ep 170 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Contrarian investing is inherently arrogant. You have the audacity to believe that hundreds or thousands of investors are wrong when you buy or sell a stock.

How can you go against the crowd without it going to your head? Vitaliy explores the psychology of disagreeing with the majority while maintaining humility.

You can read this article online here: https://contrarianedge.com/why-value-investing-requires-thoughtful-arrogance/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Why Value Investing Requires Thoughtful Arrogance – Ep 169 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

It has been a while since Vitaliy updated listeners on his Uber investment, but a lot has changed. With the pandemic now behind us, we begin to get a better sense of what the business looks like going forward. And the future looks bright.

Our analysis of Uber link: https://contrarianedge.com/our-analysis-of-uber-updated/

You can read this article online here: https://contrarianedge.com/why-we-bought-more-uber-shares-as-the-stock-fell/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post Why we bought more Uber shares as the stock fell – Ep 168 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

When the President decided to forgive $10,000 of student debt for everyone anyone earning below $125,000, he opened a very slippery slope of government bailouts.

If we continue to borrow from the future, we run the serious risk of becoming a society totally devoid of personal responsibility.

Worse still, we end up taxing future generations to pay for our indulgences, and may destroy the Dollar as a currency along the way.

You can read this article online here: https://contrarianedge.com/a-value-investors-analysis-of-student-loan-forgiveness/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post The Slippery Slope of Student Loan Forgiveness – Ep 167 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy responds to a letter from a concerned client about recent (3 month) underperformance versus the index.

To do this, he zooms out to answer the question, What are we really trying to do? What has to be in place for IMA to achieve its investing goals? What do we need from clients in order to succeed?

You can read this article online here: https://contrarianedge.com/ima-is-not-for-everyone-im-fine-with-that/

Please read the following important disclosure: https://contrarianedge.com/disclosure/

The post IMA is not for everyone. I’m fine with that! – Ep 166 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this interview with Paul Ollinger of the Crazy Money Podcast, Vitaliy and Paul cover a variety of topics touched on in Vitaliy’s new book Soul in the Game.

From growing up in Russia and emigrating to America, to the ways in which more money won’t make you happier, to lessons from the lives of classical composers, and Vitaliy’s recent thoughts on Russia’s invasion of Ukraine, this insightful conversation covers a lot of ground.

Enjoy!

You can listen to the original interview here: https://www.paulollinger.com/podcast/soul-in-the-game-with-vitaliy-katsenelson-ep-146

The post Crazy Money Podcast Interview appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy recently completed his European trip for 2022, and this podcast recounts the tale.

Visiting with his daughter Hannah for the first time, Vitaliy shares details of a delightful trip, with a special guest star that endorsed Soul in the Game.

You can read this article online here: https://contrarianedge.com/the-trip-to-europe-that-wasnt-about-europe/

The post The trip to Europe that wasn’t about Europe – Ep 165 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this special episode from the Stacking Benjamins Podcast, Vitaliy explores his youth in Murmansk, how he was influenced by his mother and father growing up, the role of pain in creativity, and the tenets of Soul in the Game.

Enjoy!

You can listen to the original interview here: https://www.stackingbenjamins.com/vitaliy-katsenelson-1214/

The post The Stacking Benjamins Podcast Interview appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

During a recent trip to NYC, Vitaliy got the opportunity to practice his favorite Stoic principles.

While he had plans to see his favorite opera with his family, the universe conspired to make different plans.

You can read this article online here: https://contrarianedge.com/sitting-on-the-tarmac-in-the-land-of-stoicism/

The post Sitting on the Tarmac in The Land of Stoicism – Ep 164 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In the recent COVID-fueled soaring market, one fund became the canonical example of investor hyper-enthusiasm: ARK. But investors have seen this movie before.

Just like the boom fueled by Y2K worries at the turn of the century, many stocks impacted by pulled forward demand will see a painful unwinding.

You can read this article online here: https://contrarianedge.com/arkk-stocks-sunk/

Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post Dotcom 2.0 bubble has burst. What is next? – Ep 163 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy sits down with Jim O’Shaughnessy, author of the classic investment book What Works on Wall Street and host of the Infinite Loops Podcast.

Vitaliy and Jim seem to share a brain, and they discuss Vitaliy’s youth in Soviet Russia, how creativity connects the conscious and unconscious mind, the power of reframing and developing a thick skin, and the joys of classical music.

Enjoy this wide ranging and fun conversation between two students of life!

You can listen to the original interview here: https://www.infiniteloopspodcast.com/vitaliy-katsenelsonsoul-in-the-game-ep121/ or watch it here: https://www.youtube.com/watch?v=414-Sv2eVps&t=3068s.

The post Infinite Loops Interview appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy writes his most honest and grim take on the Ukraine war yet. Whereas before there was a veil of pretense about what Putin’s war in Ukraine was about (NATO, “denazification”), that pretense is now gone.

Vitaliy shares why this is a war of conquest, and raises the alarm bell for the rest of Europe.

Four-part series on the war in Ukraine link: https://contrarianedge.com/tag/war-in-ukraine/

War in Ukraine: Part 4 – Are There Neo-Nazis in Ukraine? article link: https://contrarianedge.com/war-in-ukraine-part-4-are-there-neo-nazis-in-ukraine/

You can read this article online here: https://contrarianedge.com/putin-the-mask-is-off-europe-is-next/

The post Putin: The Mask is Off. Europe is Next. – Ep 162 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

This special episode features Vitaliy’s conversation with Bill Brewster on The Business Brew Podcast.

They have a wide-ranging conversation that includes Tesla, tribalism in investing, inflation, how Vitaliy uses macro, the Dotcom 2.0 crash, and more.

Enjoy!

You can listen to the original interview here: https://anchor.fm/william-brewster1/episodes/Vitaliy-Katsenelson—Soul-In-The-Game-e1km1m3

Please read the following important disclosure here.

The post The Business Brew Podcast Interview appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy was so inspired by the questions from his Millennial Investing Interview, he decided to sit down and elaborate on them.

In this podcast, Vitaliy shares how COVID has changed value investing, what makes a company great, and the impact of China decoupling on inflation.

Enjoy!

Millennial Investors podcast interview: https://www.theinvestorspodcast.com/millennial-investing/discovering-value-investments/

Why Do I Write a 27-page Letter To Clients article link: https://contrarianedge.com/why-do-i-write-a-27-page-letter-to-clients/

You can read this article online here: https://contrarianedge.com/covid-inflation-and-value-investing-millennial-investing-interview/

Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post COVID, Inflation, and Value Investing: Answers to “Millenial Investing” – Ep 161 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this Special Episode, Vitaliy speaks with Demetri Kofinas, the host of Hidden Forces, a podcast that gives its listeners an edge by teaching them how to think critically about the systems of power structuring our world.

In it, Vitaliy speaks about his upbringing in Russia, the importance of being a multidisciplinary generalist in the future, learning how to learn, and his love of writing.

You can listen to the original interview here: https://hiddenforces.io/podcasts/vitaliy-katsenelson-value-investing-soul-in-the-game/

The post Hidden Forces Interview with Demetri Kofinas appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Some investors think the fewer positions you own, the cooler you are. Vitaliy recalls meeting investors at a conference years ago that had less than 8 stocks in their portfolios. Unfortunately, the financial crisis put them out of business.

In this podcast, Vitaliy explores the tricky subject of position sizing, and how IMA uses first principles to build a resilient collection of businesses.

You can read this article online here: https://contrarianedge.com/position-sizing-how-to-construct-portfolios-that-protect-you/

The post Position Sizing: How to Construct Portfolios That Protect You – Ep 160 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this podcast with Elliott and John from This Week in Intelligent Investing, Vitaliy outlines what he calls the Stoic Operating System, how he was able to connect with classical composers in their struggle for creativity, the power of the subconscious mind, and how he handled a painful period of investment underperformance.

Enjoy!

You can listen to the original interview here: https://twiii.podbean.com/e/special-vitaliy-katsenelson-on-the-stoic-operating-system-painful-experiences-in-investing/

The post This Week in Intelligent Investing Interview appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy dives deep into how Stoicism helps him on a day to day basis, discusses some Stoic heroes, and the link between mindfulness and Stoicism.

Enjoy!

You can read this article online here: https://contrarianedge.com/how-stoicism-can-help-you-have-soul-in-the-game/

The post How Stoicism Can Help You Have Soul in the Game – Ep 159 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy speaks with The Investors Podcast in this wide ranging and fun interview. Trey (the host) asks Vitaliy to compare 2022 to 2000, where he thinks inflation will show up next, what companies to own in inflation, whether beaten down tech names are investable now, how to build good habits, and the power of Stoic philosophy.

Enjoy!

You can watch the original interview here: https://www.youtube.com/watch?v=LFvbjxeIQG4

Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post Special Episode: Investors Podcast Interview appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

The death of cable has been greatly exaggerated. While competitive threats abound, Vitaliy believes that cable, and the broadband internet it provides, will remain resilient to competition in the coming years. Listen as he explains why, and why Charter Communications stock is a great way to invest in this trend.

You can read this article online here: https://contrarianedge.com/charter-communications-chtr-stock-heads-we-win-tails-we-dont-lose/

Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post Charter Communications: Heads We Win, Tails We Don’t Lose – Ep 158 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy’s newest book, Soul in the Game, is now live and available for purchase. It has nothing to do with investing, but has everything to do with something far more important: living a meaningful life.

This podcast contains the first chapter, where Vitaliy introduces you to the book, its main themes, and provides some guidance on how to get the most out of it. Enjoy!

You can read it online here: https://contrarianedge.com/inspiring-stories-hard-won-life-lessons-introducing-my-new-book/

You can order Soul in the Game book here: https://soulinthegame.net/

The post Soul in the Game is Available Now! appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

This podcast with Buck Joffrey of the Wealth Formula Podcast has something for everyone. In it, Vitaliy discusses a wide variety of topics. He touches on how the Fiddler on the Roof was really a value investor, the dangers of relative valuation tools in today’s market, stoicism, and the war in Ukraine and its inflationary impacts. Enjoy!

You can watch the interview here: https://www.youtube.com/watch?v=2BZeSeE5b1E&t=29s

Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post Vitaliy’s Interview with the Wealth Formula Podcast appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Stagflation – low or negative economic growth caused by inflation – has likely come to America. While stagflation is far from good, and could cause a recession, there could be even bigger risks on the horizon. Fortunately, IMA portfolios are well positioned. Here’s how.

You can read this article and part 1 in this link: https://contrarianedge.com/why-is-inflation-so-high-right-now-6-reasons/

Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post Stagflation – Ep 157 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

You may have noticed that prices everywhere are rising. The question is: why? Vitaliy spells out the main causes of inflation, and how they compound to curtail economic growth.

I Kid You Not Crazy article link: https://contrarianedge.com/i-kid-you-not-crazy/

Why Green Energy is a Luxury Belief – But Won’t Be One Forever article link: https://contrarianedge.com/why-green-energy-is-a-luxury-belief-but-wont-be-one-forever/

You can read this article online here: https://contrarianedge.com/why-is-inflation-so-high-right-now-6-reasons/

Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post Why Is Inflation So High Right Now? 6 Reasons – Ep 156 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy recently sat down with his friend Michael Covel of Trend Following Radio. Michael and Vitaliy discuss investing in today’s environment, luxury beliefs, energy, and tribalism in American society today.

The episode was recorded in January 2022, prior to the Russian invasion of Ukraine.

You can listen to the original interview in this link: https://www.trendfollowing.com/2022/02/13/ep-1050-vitaliy-katsenelson-interview-with-michael-covel-on-trend-following-radio/

The post Michael Covel Interview on Trend Following Radio appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy is a big fan of mental models. They allow someone to think through analogy, often folding complex concepts into simple ones and transporting them from one discipline to another. If you use them well, you’ll often see what others don’t.

Essay – Why Do I Write a 27-page Letter To Clients: https://contrarianedge.com/why-do-i-write-a-27-page-letter-to-clients/

Fall Letter link: https://contrarianedge.com/tag/fall-letter-2021/

You can read this article online here: https://contrarianedge.com/see-more-clearly-with-these-two-mental-models/

The post See More Clearly With These Two Mental Models – Ep 155 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

When Vitaliy first started talking about writing another book several years ago, he couldn’t have predicted where that journey would take him. The book that he took time off in 2017 to write is still unfinished, waiting for its moment in the sun. But the new book, Soul in the Game, is very real. It’s being published and released on June 21, 2022.

Pre-order in this link: https://soulinthegame.net/

You can read this special episode online here: https://contrarianedge.com/soul-in-the-game-the-art-of-a-meaningful-life/

The post Soul in the Game – The Art of a Meaningful Life (Audio) appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy doesn’t know what the stock market will do next. He may have opinions and hunches, but he never acts on them. He never tries to predict the market’s next move. Neither Vitaliy nor anyone else is good at it. The only thing Vitaliy can do is trim the sails of IMA portfolios to align with the winds of inflation.

You can find all links mentioned in the podcast in this article link: https://contrarianedge.com/how-to-build-a-portfolio-for-todays-crazy-markets/

The post How to Build a Portfolio for Today’s Crazy Markets – Ep 154 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy is hosting an intimate gathering for friends, readers, and fellow value investors from 8–10:30 AM on Friday, April 29, 2022, at Lula B’s in Omaha. Stop by and enjoy some delicious breakfast. If you show up early enough, you might even get a free signed copy of his new book, Soul in the Game: The Art of a Meaningful Life.

Omaha’s registration link: https://contrarianedge.com/breakfast-in-omaha/

Guy Spier’s registration link: https://www.guyspier.com/meet-greet-omaha/

You can read this article online here: https://contrarianedge.com/a-value-investor-gathering-in-omaha/

The post Vitaliy Will Be in Omaha Next Week (and Why He Goes) – Ep 153 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Being a wealthy country has allowed us to develop what some call “luxury beliefs” – ideas and beliefs that make us feel good about ourselves but that horribly fail upon contact with objective reality.

In this article, Vitaliy shares how our wishful thinking about green energy has caused the prices of hydrocarbons to spike, and what that means for our long-term energy mix.

You can read this article online here: https://contrarianedge.com/why-green-energy-is-a-luxury-belief-but-wont-be-one-forever/

The post Why Green Energy is a Luxury Belief – But Won’t Be One Forever – Ep 152 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy recently had the pleasure to be a guest on the Value Perspective Podcast by Schroders.

In this wide ranging conversation, Vitaliy talks about how he discovers mental models, the risks of linear thinking, and shares an embarrassing story about his time in Italy. Enjoy! You can listen to original interview here: https://www.schroders.com/en/uk/the-value-perspective/blog/all-blogs/podcast-transcript–vitaliy-katsenelson/

You can read the transcript of this interview in this link: https://contrarianedge.com/mental-models-for-investing-an-interview-with-the-value-perspective/

The post Vitaliy’s Interview with the Value Perspective Podcast appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In his speech declaring war on Ukraine, the dictator of Russia, Vladimir Putin, said the goal of his “special operation” was the de-Nazification of Ukraine. He’d remove the democratically elected government and install a Russia-friendly puppet government instead, thus expanding the power and influence of the Russian empire. But de-Nazification?

Azov Battalion videos: https://www.youtube.com/watch?v=cuBeABAprlo and https://www.youtube.com/watch?v=GoqZ8gPKKis&t=1s.

Myopic circles article link: https://contrarianedge.com/see-more-clearly-with-these-two-mental-models/

You can read this article online here: https://contrarianedge.com/war-in-ukraine-part-4-are-there-neo-nazis-in-ukraine/

The post War in Ukraine: Part 4 – Are There Neo-Nazis in Ukraine? – Ep 151 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Sanctions have a checkered history. They didn’t get rid of Castro in Cuba or the Kims in North Korea. It took more than a decade for sanctions against South Africa in the 1980s to bear fruit. But the world has never seen sanctions like this. Ironically, these sanctions may give Putin even more power.

Putin’s World: Why Russia’s Showdown with the West Will Worsen article link here: https://contrarianedge.com/putins-world-why-russias-showdown-with-the-west-will-worsen/

You can read this article online here: https://contrarianedge.com/war-in-ukraine-part-3-the-future-of-russia/

The post War in Ukraine: Part 3 – The Future of Russia – Ep 150 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Just as 9/11 dramatically changed the flow of history, resulting in two wars and hundreds of thousands of deaths, so too will Putin’s invasion of Ukraine. Right now, we are seeing only the first effects and getting glimpses of second-order effects. The broad third-order effects will not be visible for a long time, though they’ll be obvious in hindsight.

Link to Ukraine Charities: https://contrarianedge.com/ukraine-charities/

War in Ukraine: Part 1 article link: https://contrarianedge.com/war-in-ukraine-why-i-was-blindsided-part-1/

The Making of the Capitalistic Pig article link: https://contrarianedge.com/the-making-of-capitalistic-pig/

Why Green Energy is a Luxury Belief – But Won’t Be One Forever article link: https://contrarianedge.com/why-green-energy-is-a-luxury-belief-but-wont-be-one-forever/

You can read this article online here: https://contrarianedge.com/war-in-ukraine-part-2-the-new-world/

The post War in Ukraine: Part 2 – The New World – Ep 149 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Eight days before Russia invaded Ukraine, Vitaliy wrote an article saying there would be no war. He was certain of it, and he was completely wrong. How could he get it so wrong? The more you knew about the situation, the less likely you were to see it clearly. He dives into why in this podcast.

Link to Ukraine charities: https://contrarianedge.com/ukraine-charities/

Who Am I? (and my composers) article link: https://contrarianedge.com/who-am-i-and-my-composers/

You can read this article online here: https://contrarianedge.com/war-in-ukraine-why-i-was-blindsided-part-1/

Shostakovich Symphony No. 7 link: https://myfavoriteclassical.com/shostakovich-symphony-no-7/

The post War in Ukraine: Why I Was Blindsided, Part 1 – Ep 148 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

IMA has owned McKesson stock since 2015. It has been very stressful at times, but also very rewarding. But the best is yet to come for McKesson. Vitaliy provides an update on his MCK investment, and why he believes its brightest days are ahead.

Opioids article link: https://contrarianedge.com/opioids-crisis-drug-distributors/

You can read this article online here: https://contrarianedge.com/mckesson-why-the-best-is-yet-to-come/ Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post McKesson: Why the Best is Yet to Come – Ep 147 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this podcast with the Disciplined Investor, Vitaliy touches on a wide variety of topics, particularly pertaining to how to invest in inflation, historical stock returns, his market outlook going forward, and the link between interest rates and discount rates for assets like stocks. Enjoy!

You can listen to the original interview here: https://thedisciplinedinvestor.com/blog/2022/01/30/tdi-podcast-shallow-hal-investing-751/

The post The Disciplined Investor Podcast with Vitaliy Katsenelson appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

It seems that every year, just as Mr. Market is hitting new highs, and speculative stocks soar to new levels, Vitaliy thinks we have hit the peak of craziness. But late 2021 / early 2022 might just be it. Vitaliy takes the listener through the levels of crazy in the market, from bond substitute overvaluation to NFTs and beyond. Buckle up and have fun!

Tesla Series link: https://contrarianedge.com/tesla-elon-musk-and-the-ev-revolution/

You can read this article online here: https://contrarianedge.com/i-kid-you-not-crazy/

Please read the following important disclosure: https://contrarianedge.com/diclosure/

The post I Kid You Not Crazy – Ep 146 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this podcast interview with investment website GuruFocus, Vitaliy shares the full gamut of how he invests, where and why. He touches on the role of being eclectic when investing, how to invest abroad, and how value investors should think about macro, among many other important topics. Enjoy this fun and wide-ranging interview!

You can watch the interview here: https://www.youtube.com/watch?v=eTSTbF0GwVw&t=67s

The post GuruFocus Interview – Value Investing with Vitaliy Katsenelson appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

It seems every year, Vitaliy believes we have finally reached the peak of crazy, only to be proven wrong the next year. The stock market and thus index funds, just like real estate, have only gone one way – up. You don’t have to be a stock market junkie to notice the pervasive feeling of euphoria. Vitaliy shares how he invests when most if not all asset classes are very expensive.

You can read this article online here: https://contrarianedge.com/how-to-invest-when-theres-nowhere-to-hide/

Why Do I Write a 27-page Letter To Clients  link here: https://contrarianedge.com/why-do-i-write-a-27-page-letter-to-clients/

Part 1 from the Fall letter: https://contrarianedge.com/this-holiday-will-mr-market-eat-too-much-pi/

The post How to Invest When There’s Nowhere to Hide – Ep 145 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this interview with Travis Chappell, host of the Build Your Network podcast, Vitaliy shares how he has used writing to build his network of investing peers, and also grow his firm, IMA. Along the way, Vitaliy touches on how we learned to emphasize people in investing, his evolution from analyst to CEO, and what career he would do if he were not an investor. Enjoy!

You can listen to the original interview in this link: https://redcircle.com/shows/build-your-network/episodes/66175920-ccf5-4d25-b168-6a235ad20173

The post Build Your Network Interview appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

On the 30th Anniversary of his family’s arrival in the United States from Soviet Russia, Vitaliy reflects on his time here. After recounting the hard early days in a new country when he was “fresh off the boat”, Vitaliy offers perspective on how America has changed since he arrived. What he sees now is, in some ways, more troubling than what he found all those years ago as a new immigrant.

You can read this article online here: https://contrarianedge.com/30-years-in-america/

The post 30 Years in America – Ep 144 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

There is a cryptocurrency, also named Omicron, that was up 900% on the day the new COVID-19 variant was publicized. Try as he might, Vitaliy cannot figure out what would have caused this crypto to spike that day. He muses that Mr. Market must be so crazy right now, that he is bidding up the price of random tokens based merely on alphabetical order. What does this imply for stocks, if anything?

You can read this article online here: https://contrarianedge.com/this-holiday-will-mr-market-eat-too-much-pi/

Essay link: https://contrarianedge.com/why-do-i-write-a-27-page-letter-to-clients/

Vitaliy’s Article Almanac 2021: https://contrarianedge.com/vitaliys-article-almanac/