The Intellectual Investor – Value Investing by Vitaliy Katsenelson

In this podcast, Vitaliy recounts the first time he felt fear. Not the fear of losing his own life, but the fear a parent feels when their kids are at risk. Vitaliy remembers this harrowing episode, and what it taught him about being a parent.... The post Unconditional Love – Ep 133 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In investing, there are many "games to play". There are a lot of ways to try to make money in the market, and not all of them are good, rational, or productive over the long term. After outlining a few games that are avoided at IMA, Vitaliy shares how... The post Fool’s Gambit – Ep 132 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this podcast, Vitaliy goes over why we may be entering a sideways market (he wrote two books on this subject), as well as how to invest in them. Spoiler alert: what has worked well in the last decade-or-so bull market might not work in the next 3 -... The post Sideways Market – Ep 131 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this podcast, Vitaliy shares a story about when four separate people asked him about "investing" in cryptocurrencies, as well as his thoughts on Bitcoin and other crypto-assets. Vitaliy highlights some risks that come with owning cryptocurrencies,... The post Curmudgeon on Cryptocurrency – Ep 130 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this important podcast, Vitaliy continues his discussion of investing in an inflationary environment. He goes over a handful of strategies and ways to mitigate inflation risk, including investing in businesses with pricing power, capital intensity,... The post How We Invest in Inflation – Ep 129 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this important podcast, Vitaliy explores the nuances of inflation, including when it may be coming, from where it might arrive, and how long it might be staying. He also discusses cryptocurrencies, our worrying government debt, and the economic... The post Inflation is here. But for how long? – Ep 128 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this podcast, Vitaliy looks forward to his upcoming drive from Zurich, Switzerland to Nice, France, which he would do with his brother Alex. The drive would take them through many charming European towns, and they would visit CERN, the advanced... The post Zurich to Nice – Ep 127 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

This podcast shares an excerpt from a client letter originally written in 2016. Though some of the examples are slightly dated, many of them are just as true today as when they were written. In some cases, even more so than before. As risk in the... The post Searching for Yield? – Ep 126 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this podcast about a family trip to San Francisco, Vitaliy draws on his memory bank to find some thoughtful lessons about parenting, culture, art, and learning from others. Enjoy! You can read this article online here:   The post Transgender Trees, Homelessness, and a Dare in San Francisco – Ep 125 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In Part 2 of Vitaliy's talk with Indiana University students, he discusses what he got right, and what he got wrong, when investing through the pandemic. He also touches on how recessions can be good for businesses, compounding small advantages, and... The post Vitaliy’s Talk with Indiana University Students, Part 2 – Ep 124 appeared first on The Intellectual Investor - Value Investing...

In Part 1 of this 2 part series, Vitaliy talks with Indiana University MBA and MsF students about his approach to investing. He covers a variety of important topics, such as how to find your own investing style, sell discipline, and the limits of... The post Vitaliy’s Talk with Indiana University Students, Part 1 – Ep 123 appeared first on The Intellectual Investor - Value Investing by...

In this podcast, Vitaliy relates a story about translating one of his investing books into Russian. His books have been translated into Chinese, Korean, Japanese, German, and Romanian. But the story behind the Russian translation is about much more... The post My Russian Book – Ep 122 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

The investment world is currently upside down. Investors are buying bonds for capital appreciation, and stocks for income. Under normal conditions, the reverse would be true. But there is an inherent danger in this - listen to find out what it is. You... The post The Dangers of Dividend Obsession – Ep 121 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this interview, Vitalily sits down with his friend Andrew Horowitz from the Disciplined Investor podcast. They discuss everything - from what value investing is (and is not), to whether you should take the Peter Lynch approach of investing in what... The post Interview with Andrew Horowitz, The Disciplined Investor – Ep 120 appeared first on The Intellectual Investor - Value Investing by...

In this short podcast about family life, Vitaliy recounts a fun, and scary, trip to Laguna Beach that ends with an important lesson. Then, he recalls a teaching moment he had with his daughter Hannah, in which he got to share his love of spreadsheets... The post Hug Your Kids – Ep 119 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this podcast, Vitaliy recalls his early 2019 trip to Europe. Written in the pre-COVID days, this essay takes the listener on a tour of a handful of random European cities, as well as a tour of random thoughts from Vitaliy. He muses on everything... The post Zurich to Nice – Travel Notes – Ep 118 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson .

In this podcast, Vitaliy talks with Michael Covel about all things Tesla. Getting into the weeds, the two discuss Tesla's profitability (or lack thereof), the nuances of the charging network and the engine, as well as prospects for ICE car makers to... The post Telsa – ICE Cold Killer? Interview with Michael Covel – Ep 117 appeared first on The Intellectual Investor - Value Investing b...

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 Katsen...

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 Katse...

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 Katsenels...

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 Vital...

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 - Valu...

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 Inv...