The Intellectual
Investor’s
Lexicon
By Vitaliy Katsenelson
A
Active Value Investing
Stock selection rather than market timing. The process involves identifying stocks within one’s competence circle, analyzing qualitative criteria (competitive advantages, strong balance sheets, high return on capital, shareholder-friendly management), determining valuations, and establishing appropriate margins of safety.
AI Losers (as investment strategy)
Buying ‘AI losers’ — stocks ignored because they aren’t AI beneficiaries.
Anti-Value
The opposite of value is not growth, but anti-value.
