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for requesting to read “The 6 Commandments of Value Investing”

You’ll receive the series in 8 parts, one email per day. Look out for the [6 Commandments] tag in the subject line.

Want to dive into active value investing? Check out Vitaliy’s books

You Don't Need to Be an Expert to Hire One. You Need a Tunaman

You Don’t Need to Be an Expert to Hire One. You Need a Tunaman.

I interview corporate executives for a living. I have spent nearly three decades analyzing businesses and managing other people’s savings. And yet, when my wife and I decided to remodel our house, I felt completely naked.
Most People Don’t Want to Write. They Want to Have Written.

Most People Don’t Want to Write. They Want to Have Written.

I was at a conference in Switzerland. A reader came up to me and asked, “Vitaliy, I’ve been reading your articles for years. I’d like to write. How should I start?”
You are not as smart as you think you are

You are not as smart as you think you are – Update 2026

In a bull market, it is easy to forget about selling discipline and then turn into a “buy and forget to sell” investor. Every time you sell a stock, you look dumb because it usually goes up afterward.
Guy Spier and Vitaliy Katsenelson

Guy Spier and I

Reflections on friendship, mortality, and the kindness of Guy Spier, the value investor who taught me that we all live on borrowed time.

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This is part one of the winter seasonal letter I wrote to IMA clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before. Instead of conveying my message through storytelling, I tried to compress my thoughts into short sentences…
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Chess Saga Continues

With Hannah’s passion for chess growing and the lockdowns easing, we discovered the wonderful world of chess meetups.
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