Year: 2020

McKesson: Amazon Will Not Throw This Drug Railroad Off The Tracks – Ep 107

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...

Interview with Jim Campbell – Part 2 – Ep 106

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,...

Amazon Pharmacy vs The Market & Distributors – Ep 105

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...

McKesson Amazon Will Not Throw This Drug Railroad Off The Tracks

McKesson: Amazon Will Not Throw This Drug Railroad Off The Tracks

Amazon.com has announced an online pharmacy offering. How big of a punch could this be to drug distributors McKesson, Cardinal Health and AmerisourceBergen?

These Simple Tips Can Make You a Better Investor – Ep 104

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...

Interview with Jim Campbell – Ep 103

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...

Reading and Listening – Ep 102

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...

One Spreadsheet at a Time

One Spreadsheet at a Time

Recalling a teaching moment I had with my daughter Hannah, in which I got to share my love of spreadsheets and their usefulness.

My Self-Improvement Journey – Ep 101

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...

US and China: In the Foothills of Cold War – Ep 100

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...

How Investors Should Deal With The Overwhelming Problem Of Understanding The World Economy – Ep 99

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...

Resetting Defaults – Ep 98

Vitaliy recently read Make Time, written by Jake Knapp and John Zeratsky, two ex-Google engineers. The book made him look at technology companies and time from a slightly different perspective. In an age when attention is currency, time becomes...

Downhill Racing Meets Value Investing – Ep 97

During the past several years, the Federal Reserve neatly groomed, manicured and then finely polished investment slopes for all asset classes by lowering interest rates to unprecedented levels. But ubiquitously rising valuations cover up a lot of...

Investing for Beginners Interview – Part 2 – Ep 96

Part 2 of 2. It was a pleasure for Vitaliy to talk to Andrew Sather and Dave Ahern on the Investing for Beginners podcast. In part two of a two part series, they take a deep dive into Uber as a value investment, the competitive threat from Tesla and...

Investing for Beginners Interview – Part 1 – Ep 95

Part 1 of 2. It was a pleasure for Vitaliy to talk to Andrew Sather and Dave Ahern on the Investing for Beginners podcast. In part one of a two part series, they discuss how Coronavirus has impacted IMA's investing, the USD as reserve currency, IMA's...

Letter from the Value Investing Mental Asylum or How I Embraced Stoics – Ep 94

Vitaliy would be lying if he told you that over the last few years investing was not frustrating. Over that time, he's felt like he was driving the wrong way on a one-way growth highway. Albert Einstein defined insanity as “doing the same thing over...

Letter from the Value Investing Mental Asylum or How I Embraced Stoics

Letter from the Value Investing Mental Asylum or How I Embraced Stoics

Albert Einstein defined insanity as “doing the same thing over and over again but expecting a different outcome.” I can relate to this on some level. I share with you why I am not writing this from a mental asylum. I found solace in Stoicism.

The Warren Buffett & Charlie Munger Show – Ep 93

The definition of a cult is “misplaced or excessive admiration for a particular person or thing”; and while you can argue that admiration for Buffett is at times a bit excessive, it is hardly misplaced. There are tens of thousands of people...

Why do I torture my kids … with classical music? – Ep 92

Lately, Vitaliy has been pondering whether and how to instill a love of classical music in his kids, a passion that was passed to Vitaliy from his own parents. Should he insist on piano lessons, or weekly listening sessions? Reflecting on his...

Svenska Handelsbanken, The Value of Book Value, and a Free Value Investing Course for Students – Ep 91

In this podcast, Vitaliy discusses his investment in Swedish bank Svenska Handelsbanken, and what makes their culture so unique. He then gives a short explanation on when book value works as a measure of intrinsic value, and why it often doesn't....

Jonah’s WFH Adventure (Work from Hawaii), and Defending Our Portfolio with Defense – Ep 90

In this podcast, Vitaliy describes the next adventure his son Jonah will have going to college from Hawaii, as well as the role that defense stocks play in IMA's portfolios today. You can read these articles online here: and . Disclosure: