Vitaliy Katsenelson
What to Expect After the Silicon Valley Bank Collapse
The Silicon Valley Bank collapse may be an extreme event, but it gives us a preview at a 100x magnification of what other banks are facing.
The Hidden Costs of Switzerland: What It Takes to Be Swiss – Ep 183
I recently traveled to a Swiss investment conference. The beauty, safety and serenity of Switzerland all come with embedded costs which I uncover in discussing the contrasts of India vs Switzerland, and seeing a country as a visitor vs a resident. You...
The Stock Market, The Economy, Possible Outcomes, How to Invest
This is part one of the winter seasonal letter I wrote to IMA clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before. Instead of conveying my message through storytelling, I tried to compress my thoughts into short sentences…
The False Sophistication of Sophists – Ep 182
The words we use matter more than we think. While we have a tendency to use words that can inflame a situation, make it worse or more extreme, by deliberately choosing our words, we can craft our perception of things, people, and events. I explain...
Each Day is a Separate Life – Ep 181
In the hopes of gaining and keeping perspective on what truly matters over the Holidays, Vitaliy draws an excerpt from Seneca on treating our most precious commodity, time, with the respect it deserves. You can read this article online here: This is...
The Real Country of Contrasts: Our Unforgettable Trip to India – Ep 180
Vitaliy and his daughter Hannah visited India for a CFA society event. The journey opened their eyes to the contrasts between the West and the sub-continent both in culture and India's potential investment merits. You can read this article online...
Why we’re confident in our Charter investment – Ep 179
Vitaliy gives an update on IMA's investment in cable company Charter. After being punched in the face by a declining stock price, Vitaliy and his team did an extensive amount of additional research on the business and industry. He believes IMA's...
Hidden costs of living in Switzerland
After a recent trip to India, the contrast with Switzerland was stark. But there are hidden costs of living in Switzerland as well.
Stock Market Roller Coaster: Prepare for a Decade or Two of Disappointing Returns! – Ep 178
Vitaliy outlines how the conditions are ripe for a sideways market, something he knows about, having written two books on the subject. He shares how to invest in sideways markets, and what to expect overall. You can read this article online here: ...
Why we’re confident in our Charter investment
The CHTR decline may have kicked us in the face, but our extensive research is telling we’re not wrong about our Charter investment. Here’s why:
Herr Schadenfreude Is Not a Friend of Ours – Ep 177
Vitaliy is embarrassed to admit that he has at times felt Schadenfreude, "shameful joy", upon seeing growth stocks decline. But his stoicism and decency quickly kicked in, and he banished this destructive feeling. Here's how. You can read this article...
The Real Country of Contrasts: Our Unforgettable Trip to India
My daughter Hannah and I went to a trip to India. We visited a small part of this large country, the most populous in the world.
Stock Market Roller Coaster: Prepare for a Decade or Two of Disappointing Returns!
Investors who own index funds have likely strapped themselves into a giant stock market roller coaster which, to this point, has only gone up.
Why we’re not celebrating the vindication of our investing principles
Value investors have had a miserable time over the past years. Now that our investing principles are finally being vindicated, you’d expect us to gloat. But Herr Schadenfreude is not a friend of ours.
How Greed and Leverage Destroyed the Crypto Tulip Market – Ep 176
Vitaliy highlights the collapse of FTX, and how this amalgamation of greed, leverage, and naive hope has proven the Crypto Tulip market to be worthless. You can read this article online here: Please read the following important disclosure:
Music Throughout My Life 2023 – Ep 175
Vitaliy updates listeners about his upcoming trip to India with his daughter Hannah. He is thrilled to speaking at the CFA Society of Mumbai, and he'll then take a tour of few parts of that special country. Next, Vitaliy updates the music that has...
How Greed and Leverage Destroyed the Crypto Tulip Market
Crypto currency was touted as antidote to central banking. But with its own flaws, is the system itself to blame for this crypto market crash?
Holiday Series: Last Time – Ep 174
Think of everything you do in a day. Wake up, take your kids to school, drive to work, eat with your family, enjoy a stroll with your spouse, watch a movie, read a book. At some point, you will do each of those things for the last time. In the second...
Holiday Series: Intro to Stoic Philosophy – Ep 173
In the first installment of Vitaliy's Holiday Series, he dives into Stoic philosophy. Or more specifically, Stoic philosophERs. He points out that even more important than knowing what they said and taught is internalizing it: putting the lessons into...
Why non-transitory recession is coming and how to face it as an investor – Ep 172
Recessions, though unpleasant, are ultimately good for the economy. Like a forest fire, they clear out the dead wood and make way for new, healthy growth. But the boom of the last decade accumulated a great deal of kindling, and the coming recession...
Are housing prices about to drop? A value investor’s take – Ep 171
Everyone has seen home prices take off since the pandemic began. As work from home became a reality for many, Americans decided to live where they want. But now that the Fed has decided to hike rates, we have a combination of high prices AND high...
