Vitaliy Katsenelson
China vs. the World
Investors have a healthy distrust, and rightly so, of governments running banks in the US and UK, but for a very strange reason are comfortable with the Chinese government wheeling and dealing with Chinese banks.
Q&A with FT:Investing in Range-Bound Markets
In the bull market that preceded the collapse of Lehman Brothers and the ensuing financial crisis, equity valuations reached some very frothy levels.
Dubai’s Shot to the Moon
Dubai’s plan to diversify away from petrochemicals made sense. Maybe it is even destined to become the Las Vegas of the Middle East, the Mecca of business travel and luxury.
Our Steroidally Challenged Economy
The global economy reminds me of a marathon runner who runs too hard and hurts himself. But now he has another race to run. So he’s injected with some serious, industrial-quality steroids, and away he goes.
IMS Health is being stolen
It was announced Thursday that IMS Health was to be stolen from its shareholders for $4 billion or about $22 share; a private equity firm will buy them out.
Books that will help gain sanity in insane market 2009
I originally wrote this list of recommended books last year; recently I updated and added a few more. I hope ...
In Defense of Capitalism: a True Love Story
Past weekend Americans voluntarily spent a few million dollars to see a documentary by Michael Moore – Capitalism: the Love Story.
Will Japan drive our interest rates higher?
In investing, it's important to think unconventionally and creatively while at the same time considering risks - no matter how remote or unmanageable they are.
5 Reasons to Avoid Gold Rush
The reasons why one should sell the cat, pawn the mother-in-law, and use the proceeds to buy gold are well known: the Fed is printing money faster than you can read this.
On BNN discussing American Express
I was on BNN today, discussed American Express (AXP). Why it is a good company, but a fairly valued (at best) stock.
Is American Express (and financial stocks) still cheap?
There are very few financial companies that one can actually analyze and thus value -- American Express (AXP) is one of them, and I believe it's a great proxy for other financial stocks.
September – the worst month for stocks
September 1st is a very strange day for me. In Russia the school year across the whole country started on September 1st. I vividly remember myself as a child on that day throughout my childhood.
Another confirmation of Chinese not-so-miracle growth
Guangshen Railway announced its results for the first six months of 2009: “tonnage of freight transported by the Company amounted to 26.5406 million tonnes.”
Beating a Dead Horse
I know, I may sound like I’m beating a dead horse how much printer cartridge can one spill over China? But I have a very high burden of proof to overcome.
Healthcare Game
In his healthcare proposal President Obama is using a tactic described in behavioral finance as anchoring.
The Second Edition of the First Part of My Book (free)
This presentation/speech qualifies as a second (free) edition of the first part of my book – the part that explains why we are likely suffering through a range-bound market.
China’s growth an accounting miracle
Now we are learning how China has achieved its "miracle growth." The country showed positive GDP growth while its electricity consumption declined in the beginning of 2009.
Reappraising China’s ‘Staggering’ Growth
I am not writing this under duress, neither my family nor I were kidnapped by the Chinese government; I simply made a mistake in my last note about China.
The Simple Math of “Staggering” Chinese Growth
Chinese non-export economy grew 23% in June! Before you start googling for that number, let me warn you. You won’t find it.
IMS Health – Think Longer-term
IMS Health (RX) did not have a spectacular quarter to put it mildly. Revenue decline (on constant currency basis) accelerated to 4% from a 2% decline last quarter.
