Home » Articles » The Intellectual Investor Podcast » Cost-Plus Capitalism: Lessons from HII and the Future of Naval Shipbuilding (Part 5) – Ep 264

Cost-Plus Capitalism: Lessons from HII and the Future of Naval Shipbuilding (Part 5) – Ep 264

September 25, 2025

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AUTHOR:

Vitaliy Katsenelson

At HII’s shipyard, I saw how cost-plus capitalism shapes naval shipbuilding: scarce automation, labor shortages, and incentives that reward rising costs.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

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