Vitaliy Katsenelson
This Stable Value Stock Is Built To Weather Market Storms
It is hard to say anything about McKesson that we have not said before — it is a high-quality business with extremely cheap shares. McKesson is a pharmaceutical distributor with extremely undervalued stock.
Beats & Misses, Seen & Unseen
Wall Street often focuses on companies that beat quarterly estimates, but this does not always lead to long-term success.
Resetting Defaults – Managing Your Time
What I am about to share with you is somewhat random drivel about a topic that has been very important to me in 2018 – managing your time. I am anything but an expert on it; and in fact, as you’ll see, this is something I fail in and am trying to fail less.
Life Itself
My wife and I recently watched the movie Life Itself (available to stream for free on Amazon Prime). I am glad I didn’t look at ratings before I watched it.
The Market Right Now Doesn’t Care How Fantastic Your Stocks Are
Seneca's words that "time discovers truth" apply to the stock market, where long-term stock prices will reflect a company's true intrinsic value, but in the short term the pricing is unpredictable.
Why We Sold Apple Stock
Our firm sold its entire Apple stake last week due to concerns about mature iPhone sales, Apple's weak services, and the lack of a large new product category.
Stansberry Investor Hour Interview
I was interviewed by my friend Dan Ferris on the Stansberry Investor Hour show.
Personal Musings, November 2018 Edition
My friend Roben Farzad will be speaking at a TEDx Talks event in Hickory, NC, which I am excited to attend.
The Average Stock Is Overvalued Somewhere Between Tremendously And Enormously
We are having difficulty finding attractive stocks because the stock market is overvalued. We have chosen to focus on finding high-quality companies significantly undervalued, rather than trying to time the market. But where to find them?
Soul In The Game
Few people have had as great an impact on me as an investor as Nassim Taleb. His books explore the role of randomness in life and the stock market, and I incorporated his concept of "soul in the game" into our investment philosophy.
How A Stock Market Turns Investors Into Gamblers – Audio Edition
Today I am going to share with you an article I wrote after the January 2018 stock market volatility. It’s as relevant today as it was then.
My Self-Improvement Journey
I've been working on a book and as a result I made some lifestyle changes. Working on the book accidentally stirred up this whirlwind of self-improvement.
How To Invest In A Stock Market That’s Due For A Hard Landing
Global debt is growing, and stock markets are at their most expensive in the last 100 years. How to invest in a stock market that’s due for a hard landing?
Hug Your Kids
I spent a weekend at Laguna Beach with my family. We liked to start the day with a walk to a coffee shop and then spend the day at the beach. On our last day, my daughter Mia Sarah almost drowned in the pool because she doesn't know how to swim yet. I’ve been hugging my kids a lot more the past few days.
Investors Have Misdiagnosed Amazon’s Push Into The Pharmacy Business
Companies are worried about Amazon's potential entry into the retail pharmaceutical industry. However, a slower changing older population, combined with the fact that Amazon's sales would only represent a small portion of total drug sales, suggests that it is unlikely to have a significant impact on the industry.
Being A Father
What's better: leaving your children with $100M after you pass away, or leaving them with fond memories of your time together? Sparked by an unexpected comment from a millionaire's son, I ponder this question.
Questions I’d be Asking If I Owned Tesla Stock
Here’s a big question I’d be asking if I owned Tesla stock: What happened to 345,000 reservations?
Why My Firm Sold Short-Term Bond ETFs and Bought U.S. Treasury Bills
Recently my firm replaced all of our short-term bond exchange-traded funds with U.S. Treasury bills. The core motive for this decision was not to pick up a few points of extra yield, though that’s a nice bonus.
What Would You Get if You Crossed Warren Buffett, Richard Branson and Steve Jobs? (Updated)
When we bought SoftBank a few years ago it was relatively unknown to most US investors. Some of our clients even thought it was a bank. Today Softbank is a daily staple in the business news.
London Value Conference Presentation (Q&A)
I had the pleasure of speaking at the London Value Conference, which was a terrific, first-rate event. I did not make a formal presentation; instead I did Q&A with my friend, the wonderful David Shapiro.
I Don’t Eat Desserts
As I got into my mid-forties I landed in my own version of a midlife crisis. Instead of getting a 20-year-old girlfriend or a red convertible, I started paying attention to my health.
