Vitaliy Katsenelson
2020: Party Like It’s 1999?
The 2020 stock market is experiencing a light version of the 1999 dot-com bubble, with growth stocks being incredibly expensive and value stocks underperforming. What will the feature bring?
The Market Right Now Doesn’t Care How Fantastic Your Stocks Are – Ep 47
The Roman philosopher Seneca wasn’t talking about the stock market when he wrote that “Time discovers truth,” but he could have been. In the long run a stock price will reflect a company’s (true) intrinsic value. In the short run the pricing...
I Don’t Eat Desserts – Ep 46
When Vitaliy got into his mid-forties, he landed in his own version of a mid-life crisis. Instead of getting a 20-year-old girlfriend or a red convertible, he started paying attention to his health. He was surprised to discover it was somewhat...
Socially Irresponsible Investing – Ep 45
Socially responsible investing. Awesome! What’s not to love – your capital doesn’t just enrich your life, it also flows only to companies that do social good. The best features of capitalism and socialism wrapped into one nice tidy package. This...
I Left My Heart… – Ep 44
While Vitaliy loves to travel, he hates traveling alone. During a recent trip to San Francisco, Vitaliy and his daughter Hannah took in the sites and sounds of that great city. Hannah and Vitaliy got some amazing memories from this short trip, and...
Market Risk & The All-Terrain Portfolio
I sat down for an interview with RealVision TV to discuss IMA’s All-Terrain Portfolio, Tesla, Bitcoin, oil, the dollar, value investing, and more.
Bitcoin – Millennials Fake Gold – Ep 43
Vitaliy has been asked a lot about Bitcoin lately. But he hasn't said much about it publicly, because he finds himself in an uncomfortable position: agreeing with most mainstream financial media. For Vitaliy, the truth is simple and clear: Bitcoin is...
Interview with Tony Greer, Part 2: The Tesla Puzzle, Crypto, the Dollar, and America’s Bright Future – Ep 42
Part 2. Vitaliy and of continue their conversation for . In this episode, Vitaliy discusses the investment puzzle presented by Tesla, whether or not he owns the stock, the automotive industry, America's bright future, and more. You can also listen...
Is Tesla Apple? Is Elon Musk Steve Jobs?
Examination of the potential success of Tesla, comparing it to Apple. What advantages Tesla has, and can Tesla become as successful as Apple?
Interview with Tony Greer, Part 1: The All-Terrain Portfolio – Ep 41
Part 1. In early November, Vitaliy sat down with of for an interview to be featured on , a widely respected financial thought leadership network. They discuss how Vitaliy constructs an all-terrain portfolio for IMA clients, and the role that the...
Is Tesla Theranos?
Tesla bears make the argument that Elon Musk is similar to Elizabeth Holmes, CEO of Theranos, who resorted to deception and fraud. What would happen to Tesla if something were to happen to him?
Why We Don’t Own Tesla stock (and no, we’re not bears)
After writing a 37-page opus on Tesla, I am often asked what I think of Tesla stock. Although I am a very enthusiastic Model 3 owner, I can equally see both sides of the argument around Tesla as an investment. This makes me neither bullish nor bearish, but someone who can foresee distinctly different paths for Tesla the company and Tesla the stock.
Find Value: In Life and Markets – Ep 40
In this episode, Vitaliy talks with Michael Covel of Trend Following Radio. Vitaliy and Michael discuss the importance of process-based goals and the role they play in creating a happy life, and the challenges of finding value in today's market....
Elon Musk’s Notorious Promises: Why Tesla’s Future Success Might Not Be in His Hands
Elon Musk is an incredibly ambitious leader with seemingly impossible goals, who has changed the auto industry and accelerated human progress. His success is mostly dependent on the capital he can raise to finance his dreams, which is made possible by the faith people have in him and Tesla. However, it is difficult to tell which of his goals will turn into realities and when.
Autopilot: Musk’s Wishful Thinking or Tesla’s Greatest Advantage?
Autopilot has some useful features, but can be dangerous on roads with unclear lane markings. Is the autopilot Tesla's greatest advantage?
Life – 2017 Edition – Ep 39
Smoothies, family traditions, and his father's medicine box: this week's episode is a bit different as Vitaliy reflects on the year that lay ahead of him. You can read this article online at:
Tribalism in Investing Might Leave You Broke
People have a tendency to form tribes and stick to the views of that group, even if they don't agree with them. Tribalism can be dangerous in investing, as it can lead to ignoring important facts and evidence. How to avoid this?
Broadening Our Horizons with Complexity
The Santa Fe Institute takes an interdisciplinary approach to research, and is a leader in complexity theory, which looks at the economy as an organic, ever-evolving ecosystem. How can I apply this theory to my own mental models
Tribalism in investing might leave you broke – Ep 38
Humans are tribal. Our tribalism goes back to the age of cavemen. In family, sports, business, and even politics, tribalism makes a degree of sense. But when it comes to investing, tribalism might leave you broke. In this episode, Vitaliy explores the...
Nokia or Samsung? Why a First-Principles Approach Will Be Key for Developing EVs
Tesla created its cars by breaking out of the domain of existing auto manufacturers and thinking from first principles, creating vehicles with fewer parts and a more customer-friendly approach to buying and servicing.
