The Intellectual Investor – Value Investing by Vitaliy Katsenelson

Vitaliy was recently interviewed by the website WorldClassPerformer.com. What follows are a series of questions about him, his background, influences and habits. While he answered these questions truthfully, you shouldn't think that he doesn't have a... The post My Interview with WorldClassPerformer.Com – Ep 116 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

If the investing road ahead (e.g. the stock market) is smooth, up and to the right, then making money in stocks will continue to be easy. But if things get more rocky, you're going to need the investment equivalent of an All Terrain Vehicle. In this... The post Time for an All-Terrain Investment Portfolio – Ep 115 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy recently asked another value investor if he wanted Warren Buffett's success. While this may seem like a rhetorical question, the truth is many value investors are quietly envious of Buffett. In this podcast, Vitaliy shares an old piece of... The post Go Ahead, Covet Your Neighbor’s Wife. – Ep 114 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

At first, investors loved them. Then, they hated them. Now, investors have left them for dead. Oil and gas pipeline companies are anything but popular. But they are essential businesses, with rising free cash flow and substantial dividend yields. In... The post The Renaissance of Pipelines and Our Sell Discipline – Ep 113 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

It all started after Vitaliy's daughter, Hannah, watched The Queen’s Gambit for a homework assignment. She told Vitaliy he had to watch it. He did, and loved it. But then Hannah said, “Dad, let’s play chess!” In this podcast, Vitaliy explores... The post Girls’ Gambit – Ep 112 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy recently had the pleasure to sit down with Angelo Robles of the Family Office Association. In this interview, Angelo and Vitaliy discuss Vitaliy's approach to portfolio construction, how value investors should think about the macroeconomy, how... The post Portfolio Construction, Macro, and Chess: Interview with Angelo Robles – Ep 111 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Vitaliy has a problem with both value- and growth investing demagogues. While value demagogues tend to believe any company that trades at a P/E above the market average is too frothy, growth demagogues claim that price doesn't matter. In this... The post Value & Growth Demagogues – Ep 110 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

The Winter 2020/21 Client Letter that Vitaliy just sent to IMA clients was 27 pages long. Over the next few weeks, he’ll share excerpts from the letter with you, our dear podcast listeners. These excerpts will not focus as much on individual "fish"... The post Don’t Be a Sophist, and Why I Write 27 Page Letters to Clients – Ep 109 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

2020 will go into our memory banks as a very painful year. Stoicism, particularly the stoic practice of negative visualization, helped Vitaliy put 2020 into a broader historical context, and compare what happened, which was bad, to what could have... The post A Shift in Perception Transforms Reality – Ep 108 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Amazon.com has announced an online pharmacy offering. How big of a punch could this be to drug distributors McKesson, Cardinal Health and AmerisourceBergen? In this podcast, Vitaliy takes you through why he believes these businesses will be resilient... The post McKesson: Amazon Will Not Throw This Drug Railroad Off The Tracks – Ep 107 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In Part 2 of his interview with Jim Campbell, Vitaliy and Jim take a deep dive into assessing company management, nuanced thinking, and writing. To explore this, they examine the career of Masayoshi Son, the CEO of Softbank, in which Vitaliy's firm,... The post Interview with Jim Campbell – Part 2 – Ep 106 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this interview with Andrew Kleuss on Investors Hub, Vitaliy makes the case that concerns over Amazon's entry into the pharmaceuticals business are probably overblown. To parse this problem, Vitaliy differentiates between pharmacies and drug... The post Amazon Pharmacy vs The Market & Distributors – Ep 105 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Sometimes, simple rules add up to great results. In this podcast, Vitaliy shares some simple, straightforward heuristics which, when applied consistently over time, should help you compound your money in successful investments. They have certainly... The post These Simple Tips Can Make You a Better Investor – Ep 104 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this interview with Jim Campbell, host of radio show Business Talk and author of the book Madoff Talks (see link below), Vitaliy gives a wide-ranging overview of Tesla and Elon Musk. From parallels between the transition to cars from horses, to the... The post Interview with Jim Campbell – Ep 103 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this podcast, Vitaliy celebrates his daughter Hannah’s love of reading and her budding talent as a writer. Then, drawing on formative childhood experiences with his father, he shares his thoughts on how to instill a love of classical music in... The post Reading and Listening – Ep 102 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

When Vitaliy started writing his new book, it kicked off a slew of other positive changes in his life. In this podcast, Vitaliy covers how diet, exercise, and meditation have made him fitter, stronger, happier, and (hopefully!) a better person. "I... The post My Self-Improvement Journey – Ep 101 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Over the last six months, Vitaliy has skewed IMA's portfolios more towards defense companies. Why? The world appears less safe today than at any time since the Berlin Wall came down. Fast-forward two decades from then to now, and we find a drastically... The post US and China: In the Foothills of Cold War – Ep 100 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

If you believe the global economy is doing great and stocks are cheap, this podcast is not for you. But if you believe that stocks are expensive, and that a global economic time bomb is ticking because of unprecedented intervention by governments and... The post How Investors Should Deal With The Overwhelming Problem Of Understanding The World Economy – Ep 99 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.