Vitaliy Katsenelson
Q&A Series: On Firing Clients, Sizing Positions, and Ignoring Book Value
At IMA, we deal with prospective clients who have a short-term time horizon very differently. We do what I call "reverse marketing." I write articles, people read them, and when they get interested in our services, they download our brochure and reach out to us.
Q&A Series: On Firing Clients, Sizing Positions, and Ignoring Book Value – Ep 288
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Q&A: The Antifragile Investor: Balancing Geopolitics, Identity, and the Cost of Growth
There is an unspoken conflict between Americans and Europeans. Europeans accuse Americans of being stuck in the rat race. Americans look at Europeans, see them sipping their espressos for two hours a day and reading newspapers, and call them lazy.
Q&A: The Antifragile Investor: Balancing Geopolitics, Identity, and the Cost of Growth – Episode 287
There is an unspoken conflict between Americans and Europeans. Europeans accuse Americans of being stuck in the rat race. Americans look at Europeans, see them sipping their espressos for two hours a day and reading newspapers, and call them lazy.
Uber and Self-Driving Cars: The Utilization Problem Nobody Talks About
I took a Waymo with my colleague Cyrus. We were genuinely impressed. It was a seamless experience. Uber is dead, long live Waymo? Not So Fast.
Uber and Self-Driving Cars: The Utilization Problem Nobody Talks About – Ep 286
I took a Waymo with my colleague Cyrus. We were genuinely impressed. It was a seamless experience. Uber is dead, long live Waymo? Not So Fast.
What AI, Tariffs, and Global Uncertainty Mean for Your Portfolio – Ep 285
The future feels less predictable because the range of possible outcomes has expanded. Here is my best attempt to think through that reality with humility, and why you should let me do the worrying for both of us.
What AI, Tariffs, and Global Uncertainty Mean for Your Portfolio
The future feels less predictable because the range of possible outcomes has expanded. Here is my best attempt to think through that reality with humility, and why you should let me do the worrying for both of us.
When to sell a stock: The Art and Psychology of Selling – Ep 284
Investing is a lot more art than science. I bring a scientist's mindset – I approach problems with an open mind and I am willing to change my mind when data proves me wrong.
When to sell a stock: The Art and Psychology of Selling
Investing is a lot more art than science. I bring a scientist's mindset – I approach problems with an open mind and I am willing to change my mind when data proves me wrong.
On AI Eating The World
Instead of joining the chorus of false certainty, let me offer you a crayon-level framework for thinking about it. I am going for vaguely right, not precisely wrong.
On AI Eating The World – Ep 283
Instead of joining the chorus of false certainty, let me offer you a crayon-level framework for thinking about it. I am going for vaguely right, not precisely wrong.
10 Life Lessons I Passed On to My Daughter on Her Bat Mitzvah – Ep 282
On January 11, 2026, my younger daughter, Mia Sarah, celebrated becoming an adult, at least according to Jewish tradition (she turned 12). This is what I told her
10 Life Lessons I Passed On to My Daughter on Her Bat Mitzvah
On January 11, 2026, my younger daughter, Mia Sarah, celebrated becoming an adult, at least according to Jewish tradition (she turned 12). This is what I told her
Q&A: From Imposter Syndrome to Authenticity
I let myself be me when I write. I just made it sound easy. It is not. It comes down to confidence. It took me a long time – years, to get comfortable with being me on paper.
Q&A: From Imposter Syndrome to Authenticity – Ep 281
I let myself be me when I write. I just made it sound easy. It is not. It comes down to confidence. It took me a long time – years, to get comfortable with being me on paper.
The Church of Climate and the Law of Unintended Consequences – Ep 280
When policies are judged by intentions rather than outcomes, you get Germany closing nuclear plants only to burn more coal.
The Church of Climate and the Law of Unintended Consequences
When policies are judged by intentions rather than outcomes, you get Germany closing nuclear plants only to burn more coal.
Q&A Money Should Buy Time, Not Things
As my income went up, instead of buying myself things, I turned to buying time and experiences.
Q&A Money Should Buy Time, Not Things – Ep 279
As my income went up, instead of buying myself things, I turned to buying time and experiences.
Our Sistine Chapel: Long-Term Investing in Quality and Kindness
Warren Buffett calls Berkshire Hathaway his Sistine Chapel. This analogy haunted me for years until I realized we are building the exact same thing at IMA. It took me a decade to put into words, but I finally narrowed our firm’s entire reason for existence down to just two words. They sound simple, but living up to them is the hardest thing we’ve ever done.
