Vitaliy Katsenelson
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.
The China Bubble’s Coming — But Not the One You Think
Financial commentators are obsessively debating whether the recent rise in the Chinese stock market means there's a bubble - and if so, when it's going to burst.
Microsoft – Is Not Over Until it is Over
I’ve received a few emails asking my thoughts on Microsoft’s (MSFT) quarter. Here is my take: this is probably the least meaningful quarter in the company’s recent history.
Caterpillar’s Earnings
It is interesting to observe the excitement the Street has with Caterpillar's (CAT) earnings. They were better than company thought last quarter.
Random thoughts, Stocks for the Long-Run, no more
Today I’ve caught up on my last three BusinessWeek podcasts, called “Story Behind the Story.” John Burns, BW’s editor, interviews the reporter who wrote this week’s cover story.
Four Reasons Why Investors Are Wrong on IMS Health
The word contrarian is often overused in investing, I have yet to meet an investor who bragged about being a crowd follower; therefore, everyone is a contrarian.
Six reasons why natural gas is better investment than oil
Six reasons why natural gas is better investment than oil
Five reasons to avoid the gold rush
The arguments for why one should sell the cat, pawn the mother-in-law and use the proceeds to buy gold are well known.
As investment, gold’s just a brick
Gold is an important but very different asset class that competes with stocks and bonds. Unlike stocks and bonds, its main attractions are scarcity, durability and resistance to oxidation - it simply never stops shining.
You are not as smart as you think you are
Lately I’ve been getting this powerful feeling that everything I touch turns to gold. Every time I buy a stock, it goes up. Did I finally figure out the stock market game?
The Making of CAPITALISTIC PIG
I spent my youth in Murmansk, a city in the northwest part of Russia, located right above the Arctic Circle. Murmansk owes its existence to the port that, due to the warm Gulf Stream, doesn't freeze during the long winters, providing unique access to Russia from the north.
