Home » Articles » The Intellectual Investor Podcast » The Ability to Suffer – Part 2 – Ep 268

The Ability to Suffer – Part 2 – Ep 268

November 6, 2025

AUTHOR:

One important quality great management must have is the ability to suffer, doing the right thing when everyone else is chasing easy gains.

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You can read the full letter here: https://investor.fm/2025-fall-letter/

Previous client letter: https://investor.fm/cost-plus-capitalism-lessons-from-hii-and-the-future-of-naval-shipbuilding-part-5/

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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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