Articles

A writer is born

Made in America

In 2004, I started writing for TheStreet.com. At the time, TheStreet was an interesting experiment.

Becoming an investor - Vitaliy and Naum Katsenelson

Becoming an investor

Hallway conversations with Joe and Bill at PVG Asset Management sparked my love affair with investing. I knew I wanted to be an analyst.

Why we’re confident in our Charter investment

The Infinite Game in Telecom

CHTR, just like Comcast, showed only a very slight decline in broadband customers in the quarter. Most of the decline came from the US government removing subsidies for rural customers.

Second-class citizen

Second-class citizen

I was often made aware that there was something wrong with my being Jewish. Even as a little child, I often encountered a second-class-citizen attitude toward me.

The Hidden Risk in “Religion” Stocks

The Hidden Risk in “Religion” Stocks 

A basic property of religion is that the believer takes a leap of faith: to believe without expecting proof.

The Best and Worst Investment Decisions Ive Made

The Best and Worst Investment Decisions I’ve Made

I’m going to share stories about my best and worst investment decisions. But don’t worry, this isn’t just a brag-and-cringe session about making or losing money.

Naum Katsenelson

My Father

For months after my mom’s death, I was terrified of losing my father. I had nightmares about it. That fear of losing my dad was seared into my brain.

Life takes a terrible turn

Life takes a terrible turn

My mother and my father were born a year a part. Both of their birthdays are in May. I remember ...

Trump’s call for a bitcoin strategic reserve is a very bad idea

Trump’s call for a bitcoin strategic reserve is a very bad idea

At the end of July, Donald Trump went full Bitcoin. He wants the US to become a “Bitcoin superpower”; he promised to build a Bitcoin strategic reserve.

Red October

Red October

I spent my youth in Murmansk, a city in the northwest part of Russia, located right above the Arctic Circle. Fans of Tom Clancy’s The Hunt for Red October may remember Murmansk as the home base for the submarine Red October.

Unpacking Buffetts Investment Philosophy A Personal Perspective

Unpacking Buffett’s Investment Philosophy: A Personal Perspective

How does our investment approach stack up against Warren Buffett’s? Answering this question gives me a chance to dissect Buffett’s famous investment principles and compare them to our own strategy.

The Eclectic Value Investor

The Eclectic Value Investor

How do I describe myself as an investor? This question provides an opportunity to delve into what I mean by being an “eclectic value investor with a slight touch of dogmatism.”

The AI Revolution

The AI Revolution

The discussion of AI quickly falls into a domain bordering on Sci-Fi. My thoughts here are only marginally shaped by scientific facts.

The EV Industry Landscape

The EV Industry Landscape

As a part of a summer letter to IMA clients, I will discuss investments in the EV industry, spurred by the following question from a client.

Lessons from Historys Technology Booms

Lessons from History’s Technology Booms

The technology at the core of the mania is different every time. What doesn't change over time is human emotion – the fear of missing out and then the fear of loss.

The Magnificent 7 and the Dangers of Market Hype

The Magnificent 7 and the Dangers of Market Hype

Despite the S&P 500 showing gains in the mid-teens, the average stock on the market is either up slightly or flat for the year.

Understanding Today’s Economic Landscape

Interest rates that stay low and actually keep declining for almost a quarter of a century slowly propagate deep into the fabric of the economy.

From Bull to Sideways Markets to Nvidia

I discussed my condensed views on the stock market, economy, and our investment strategy in a letter to IMA clients.

Traditions, Investment Conferences and Presentations

Investment conferences are the constants in my life. This year, we heard 24 presentations in three days at VALUEx Vail.

The Slippery Slope of Student Loan Forgiveness

The Slippery Slope of Student Loan Forgiveness – Edition 2024

My daughter Hannah was just accepted to University of Denver. She might take out student loans. Why wouldn’t she?

30 Years in America

30 Years in America – Edition 2024

On the 30th Anniversary of my family's arrival in the United States from Soviet Russia, I reflect on my time here. After recounting the hard early days in a new country when I was "fresh off the boat", I offer perspective on how America has changed since I arrived. What I see now is, in some ways, more troubling than what I found all those years ago as a new immigrant.

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