Vitaliy Katsenelson
Beloved Country. Unloved Hedge. (Updated) – Ep 139
Vitaliy re-shares his 2020 musings on the US Dollar, and its role in the world, and gold, and its role in IMA portfolios. You can read this article online here:
US and China: In the Foothills of Cold War (Updated) – Ep 138
Vitaliy updates listeners on his views about the US and China, and includes his previous article going over the risks posed by tensions between the two nations. He also discusses and shares an update on IMA's investment in defense stocks, in light of...
Beloved Country. Unloved Hedge. (Updated)
My thinking on gold, the US Dollar, our national debt and our reserve currency status has not really changed much since August 2020, except that at IMA we have been increasing our exposure to foreign companies whose business is not tied to the US. We still have a small hedge in gold – I am as unexcited about it as I was when I wrote this article.
Our Analysis of UBER (Updated)
I re-share and update my analysis of Uber, and why it remains an attractive investment. I provide a mental model of how to analyze companies that may appear expensive but have yet to reach escape velocity in their cost structure and have a large market addressable market that they’ll likely dominate.
US and China: In the Foothills of Cold War (Updated)
In this article, I update my views about the US and China, and include my original article going over the risks posed by tensions between the two nations. I also discuss and share an update on IMA's investment in defense stocks, in light of the current geopolitical climate.
Homophobic Arbitrage – Ep 137
Vitaliy recounts the time he and his brother Alex were stranded in Key West without a hotel room for a night. Every hotel had no vacancy, except one "all male" hotel. Vitaliy tells the story of their pleasant stay there, and how investors can profit...
Let’s keep humans at the heart of hiring practices – Ep 136
The Financial Times recently published an article about Vitaliy's travails in recruiting. After sharing the article, Vitaliy expands on what he learned about recruiting, teams, and culture since becoming CEO of IMA. Letter to a Young Investor link: ...
Let’s Keep Humans At The Heart Of Hiring Practices
The Financial Times recently published an article about my travails in recruiting. After sharing the article, I expand on what I learned about recruiting, teams, and culture since becoming CEO of IMA.
Winning the Ovarian Lottery
“At least a billion people on earth at this moment who would consider their prayers answered if they could trade places with you.” – Sam Harris
Rooting For The Underdog – Ep 135
For the longest time, Vitaliy's son Jonah would beat his younger sister Hannah at just about everything. That all changed when we watched The Queen’s Gambit earlier this year. Here's the story. Enjoy! Long essay link: James Clear's Post: Santa Fe...
The Softer Side of Value Investing – Ep 134
Culture matters. In this podcast, Vitaliy shares how he evolved from an analyst purely focused on numbers to an investor and CEO focused on people. Using two stories from IMA's own past, Vitaliy recounts how running the business made him a better...
The Softer Side of Value Investing
Culture matters. I share how I evolved from an analyst purely focused on numbers to an investor and CEO focused on people. Using two stories from IMA's own past, I recount how running the business made me a better investor.
Rooting For The Underdog
For the longest time, my son Jonah would beat his younger sister Hannah at just about everything. That all changed when we watched The Queen's Gambit earlier this year.
Unconditional Love – Ep 133
In this podcast, Vitaliy recounts the first time he felt fear. Not the fear of losing his own life, but the fear a parent feels when their kids are at risk. Vitaliy remembers this harrowing episode, and what it taught him about being a parent....
Fool’s Gambit – Ep 132
In investing, there are many "games to play". There are a lot of ways to try to make money in the market, and not all of them are good, rational, or productive over the long term. After outlining a few games that are avoided at IMA, Vitaliy shares how...
Fool’s Gambit
In investing, there are many "games to play". There are a lot of ways to try to make money in the market, and not all of them are good, rational, or productive over the long term.
Unconditional Love
I recount the first time I felt fear. Not the fear of losing my own life, but the fear a parent feels when their kids are at risk. I remember this harrowing episode, and what it taught me about being a parent.
Sideways Market – Ep 131
In this podcast, Vitaliy goes over why we may be entering a sideways market (he wrote two books on this subject), as well as how to invest in them. Spoiler alert: what has worked well in the last decade-or-so bull market might not work in the next 3 -...
Sideways Market
I go over why we may be entering a sideways market (I wrote two books on this subject), as well as how to invest in them.
Curmudgeon on Cryptocurrency – Ep 130
In this podcast, Vitaliy shares a story about when four separate people asked him about "investing" in cryptocurrencies, as well as his thoughts on Bitcoin and other crypto-assets. Vitaliy highlights some risks that come with owning cryptocurrencies,...
How We Invest in Inflation – Ep 129
In this important podcast, Vitaliy continues his discussion of investing in an inflationary environment. He goes over a handful of strategies and ways to mitigate inflation risk, including investing in businesses with pricing power, capital intensity,...
