Month: March 2020

The All-Terrain Dividend Portfolio

I was finally able to do something I have tried to do but could not for ten years! We have built a dividend portfolio that’s “all-terrain” and that yields … well, you’ll have to read to the end to find out.

The Jet Lag Series: Art or Craft – Ep 60

While in Venice, Vitaliy, his brother, and son visited a glass factory and watched a glassblowing demonstration. The glass artist took a ball of molten glass, stuck large forceps into it, and magic happened – he pulled a horse’s head, body, legs...

Our Thinking About Coronavirus Has Evolved

Our Thinking About Coronavirus Has Evolved

Our thinking about coronavirus has evolved significantly over the last few weeks. Our initial optimism that it would send us into a mild recession was proven wrong by our government’s inept response – the extra time that we were given was wasted.

Never Let a Good Crisis Go to Waste

Never Let a Good Crisis Go to Waste

I discussed with Andrew Horowitz this recession and why it's a good crisis, and not like any other previous one we've experienced.

Never Let a Good Crisis Go to Waste – Ep 59

Vitaliy recently spoke with Andrew Horowitz at “The Disciplined Investor” podcast. Andrew graciously allowed to share Vitaliy's part of the interview with the Intellectual Investor audience. The discussion centers around this recession and why...

Surviving The Coronavirus Market Crash

Surviving The Coronavirus Crash: ‘You Make Most of Your Money in a Bear Market; You Just Don’t Realize it at the Time’

Especially in this coronavirus market crash, we continue to seek out what we always look for globally — high-quality businesses that we can buy at a significant discount to fair value.

Markets in Turmoil: Our Game Plan – Ep 58

In this podcast, Vitaliy shares a recent (brief) letter he wrote to clients about how he and his firm are responding to Coronavirus and the recent selloff in the stock market. After touching on the day to day at IMA, Vitaliy elaborates on how he is...

The Jet Lag Series: Art or Craft

Severe repetition could turn an art into a craft – as our skill improves creative tension is reduced. Repetition may slowly drain the emotion out of each iteration. Craft and art are both components of creative activity, but art is the component that keeps us improving.

Markets in Turmoil: Our Game Plan for Crisis

Markets in Turmoil: Our Game Plan for Crisis

A letter we sent to clients about how we are responding to the recent market selloff. We are anything but celebrating the toll coronavirus will take on human life and the global economy, we are embracing this crisis as an opportunity to increase the long-term returns of our portfolio.

Set Your Egg Timer to 6 Months – Ep 57

Vitaliy wrote the following in early February after his trip to Europe (as part of the Jet Lag Series), which started in Switzerland and concluded in Italy (Venice to be exact). Yes, the part of Italy that today is devastated by coronavirus. He missed...

Set Your Egg Timer to 6 Months

Set Your Egg Timer to 6 Months

If we had our egg timer set on six months, we’d prioritize what really matters: relationships, inhaling life, walking in the park. We’d reset what we care about, and it wouldn’t be things. We are given the rare opportunity to prioritize what is most important to us without guilt. The material world is on pause, at least for a few weeks.

Russia & Saudi Play a Dangerous Game of Chicken – What Would Ben Graham Do in Today’s Market? – Ep 56

As Vitaliy was writing a recent article, he got an email from a client saying, “Your move, boss.” This prompted him to expand on what exactly his "move" would be, given the recent stock market turmoil. In short, it is just another day at IMA....

What Would Ben Graham Do in Today’s Market?

What Would Ben Graham Do in Today’s Market?

I stumbled on a column by the wonderful Wall Street Journal columnist Jason Zweig, titled “What Benjamin Graham Would Tell You to Do Now: Look in the Mirror.”

Russia & Saudi Play a Dangerous Game of Chicken - Oil Price War

Russia & Saudi Play a Dangerous Game of Chicken

Saudi Arabia announced that it will increase oil production from 9.7 million barrels a day to 10 million and then to 12 million if needed. This news alone sent the oil price down 20% – and the whole stock market with it.

Jet Lag Series: Inhaling Europe – Ep 55

Vitaliy is back from his trip to Switzerland and Italy. This trip was extra special for him, because he and his brother Alex were joined by his son Jonah. Every day on the trip Vitaliy wrote in his journal, but was always constrained on time. After...

The Impact of Coronavirus: People, Economy & Your Portfolio

The Impact of Coronavirus: People, Economy & Your Portfolio

This letter will be about the impact of coronavirus, divided into three sections: health and human impact, economic impact, and investment strategy.

The Impact of Coronavirus: People, Economy & Your Portfolio – Ep 54

Vitaliy wrote the following letter to IMA clients about coronavirus. Since news broke a few weeks ago, he's received many emails from readers asking for his thoughts on the virus. Rather than write another article on it, Vitaliy has decided to share...