The Intellectual Investor by Vitaliy Katsenelson

“The new Benjamin Graham is Vitaliy Katsenelson”

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Investing

November 25, 2025

Quality Matters: From Paris to Portfolios

Today I am a different (hopefully better) investor than I was five, ten, twenty years ago; as I look at the biggest changes, it is my focus on quality investing and being extremely selective and uncompromising when it comes to quality.

Q&A Series: Research Process, Evaluating Country Risk and Tech Investments

The Intellectual Investor Breakfast - Berkshire Hathaway get together - Omaha 2026

Omaha 2026 Breakfast + Get Together

Videos

September 9, 2025

The Dichotomy of Control

The Dichotomy of Control sounds extremely simple, but it’s incredibly powerful and it’s very difficult to actually execute it in daily life. And it’s basically says this.

September 2, 2025

The Key To a Good Life: Having Good Problems

What are the good problems? It’s very difficult to have a meaningful life and not be solving good problems.

August 29, 2025

My Evolution as an Investor and Writer

I look at my evolution as both as a writer, as an investor. As a writer, I feel like I have a lot more courage, you know, to do more.

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The Stock Market, The Economy, Possible Outcomes, How to Invest

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…

Client Letter, Stock Market

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Operation Molly article: https://investor.fm/operation-molly/

Jonah’s X post: https://x.com/KatsenelsonJ/status/1999214976917979252

Rembrandt’s painting: https://investor.fm/learning-to-see/#rembrandt

Hannah’s painting: https://investor.fm/learning-to-see/#hannah-katsenelson

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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.