Vitaliy Katsenelson
Why Smart Investors Should Sit Out the AI Arms Race – Ep 265
The hype around investing in AI feels real, but like every revolution, it’s easy to forget that not every gold rush makes its miners rich.
Cost-Plus Capitalism: Lessons from HII and the Future of Naval Shipbuilding (Part 5)
At HII’s shipyard, I saw how cost-plus capitalism shapes naval shipbuilding: scarce automation, labor shortages, and incentives that reward rising costs.
Cost-Plus Capitalism: Lessons from HII and the Future of Naval Shipbuilding (Part 5) – Ep 264
At HII’s shipyard, I saw how cost-plus capitalism shapes naval shipbuilding: scarce automation, labor shortages, and incentives that reward rising costs.
Why We Bought Aker BP: A Technology-First Oil Company (Part 4)
I stumbled on Aker BP completely by accident. I knew the Lundins had sold Lundin Energy to Aker BP (a Norwegian oil company) and were large shareholders, but I’d never looked at the stock.
Why We Bought Aker BP: A Technology-First Oil Company (Part 4) – Ep 263
I knew the Lundins had sold Lundin Energy to Aker BP (a Norwegian oil company) and were large shareholders, but I’d never looked at the stock.
Charlie Kirk and the Cost of Courage – Ep 262
When Charlie Kirk invited me onto his show, I hesitated. I knew little about him and had heard mixed opinions. Out of curiosity, I watched a few episodes. What I saw was a man I often disagreed with—but also someone earnestly searching for truth, and willing to listen with respect.
The Client Who Changed How I Invest
Warren Buffett said that when he writes his annual report, he thinks of his sister Susan and writes as if ...
The Dichotomy of Control
The Dichotomy of Control sounds extremely simple, but it's incredibly powerful and it's very difficult to actually execute it in daily life. And it's basically says this.
The Key To a Good Life: Having Good Problems
What are the good problems? It's very difficult to have a meaningful life and not be solving good problems.
Skin in the Game, Steam in the Ground (Part 3) – Ep 261
This is Part 3 from my client letter where I talk about my trip to International Petroleum in Calgary, the economics of Canadian oil sands, and the importance of corporate culture.
My Evolution as an Investor and Writer
I look at my evolution as both as a writer, as an investor. As a writer, I feel like I have a lot more courage, you know, to do more.
Inside Baseball: How We Build Portfolios (Part 2) – Ep 260
I'm about to share Part 2 of the letter, where I'll take you deep into the "inside baseball" of our investment process. Specifically, I'll discuss how we structure and determine the position size of each stock in our portfolios – something I haven't covered before (at least not in this detail) and haven't seen other investors discuss much either.
Skating on Thin Ice: Discipline, Doubt, and the Long Game (Part 1) – Ep 259
Over the next few weeks I’ll share excerpts from the 27-page letter I just wrote to IMA clients. So take these excerpts as they are – written for clients but useful, I hope, to you.
Obsess Responsibly
The most important insights is to know that if you have an obsessive personality, if you really love what you do, then you have to put guard rails where something you do automatic.
The Baltics, Europe’s Pragmatic Rising Stars – Ep 258
📩 Join 94,000+ readers on my FREE weekly email newsletter: 📚 Get my books: Soul in the Game - The Little Book of Sideways Markets - Active Value Investing - WHO AM I: Vitaliy Katsenelson is the CEO of...
Skin in the Game, Steam in the Ground (Part 3)
How I invest begins with trust: every decision is made with my client in mind, focused on long-term survival rather than chasing short-term benchmarks.
The Stoic Framework for Value Investing I Vitaliy Katsenelson and Anthony Scaramucci
This is the conversation Anthony Scaramucci and I had on his podcast "Open Book".
Inside Baseball: How We Build Portfolios (Part 2)
Our investment process took a significant step forward by assigning ratings to our companies and help us substantially improve our portfolio construction.
Change The Way You View Your Investment Portfolio
Time is an essential element in managing an investment portfolio, but it’s what the business does during that time that truly matters.
Warren Buffett and the Berkshire Hathaway Paradox – Ep 257
What’s fascinating about this trip is that it has everything and nothing to do with Warren Buffett. The main event that draws everyone to Omaha – the Berkshire Hathaway (BRK) annual meeting.
