Articles
Finding Investment Value Outside the U.S.
U.S. investors have been brainwashed into thinking that whenever we venture beyond our shores we take on more risk.
Are We There Yet?
Are we still in the grip of a treacherous sideways market, or we are now entering into a secular bull market?
Tweets from Warren Buffett’s Woodstock
Over the years, the beginning of May has turned into a wonderful tradition: a trip to Omaha to Buffett’s Berkshire Hathaway annual meeting.
Mea Culpa – Whistler Blackcomb
Our investment process is both qualitatively and quantitatively intensive. Throughout the course of a year we look at hundreds of companies.
Whistler Blackcomb Beckons for Investors
I recently stumbled on another, no-less-intriguing ski resort: Whistler Blackcomb in British Columbia.
Skiing – My Story
One of my brightest childhood memories is of skiing. I spent my childhood in Murmansk, a port city up in northwest Russia.
Video: I Like Big Dividends and I Cannot Lie
This song was part of Vitaliy Katsenelson's presentation at the Value Investing Congress in Las Vegas in 2013. The theme of the presentation - I Like Big Dividends and I Cannot Lie.
I Like Big… and I Cannot Lie – Presentation
My presentation at Value Investing Congress in Las Vegas in 2013
See You in Omaha, Again!
Over the years the beginning of May has turned into a wonderful tradition: the trip to Omaha to Buffett’s Berkshire Hathaway annual meeting.
Finding Yield and Value in Dividend-Paying Stocks
If I were a dividend, I’d fire my press agent. I’d be jealous and feel neglected because stock prices get a lot more attention than they deserve.
How HP Can Navigate the Information Superhighway
Когда Hewlett-Packard Co. обсуждается в средствах массовой информации, она изображается как компьютерная компания.
No Kodak Moment for Hewlett-Packard
After the shares of Hewlett-Packard Co. had been halved from about $48 earlier that year, I made a case for the stock.
Michael Dell, Who’s Your Daddy?
Michael Dell should ask himself: "Who is my daddy?" His current daddy makes it impossible for him to transform Dell from a PC maker into a technology services company.
Buffett Buying Heinz – Not As Expensive as Appears
Berkshire Hathaway buying Heinz is unlike any deal Buffett has ever done. In his past deals he was always a passive owner.
How Much Would You Pay for the Apple Ecosystem?
Apple’s ecosystem is an important and durable competitive advantage; it creates a tangible switching cost after Apple has locked you into the i-ecosystem.
Understanding Apple Requires an Analysis of Fundamentals and Psychology
What makes Apple stock difficult to own is psychology. The company’s success since 2000 is a black swan.
Super Bowl is a Tradition
My partner at IMA, Michael Conn, is a college football fanatic. He went to CU Boulder and has been a CU Buffs season-ticket holder for 40 years.
Looking for “Herbal” in Herbalife
Months before the recent Sturm und Drang surrounding nutritional-supplement maker Herbalife, my firm took a long, hard look at the company.
On Y! Breakout – Apple (not yet)
I was on Yahoo! Breakout with terrific Jeff Macke discussing Apple ….
Bargain Hunting at J.C. Penney
J.C. Penney Co. is a classic short-term pain arbitrage stock. There is a lot of uncertainty about what the retailer’s sales will do in the near future.
Finding Value in HMOs
HMOs appear to be perfect stocks for today’s market. They have good balance sheets, terrific free cash flows and recurring, highly economics-insensitive revenues.
