In this Q&A session, Vitaliy Katsenelson was asked about his biggest errors over the past five years. His response: “I would argue like the obvious one—my cable stocks so far have been capital misallocation,” he admitted. He still holds hope that the thesis will eventually play out, but added, “At … Read More
Vitaliy Katsenelson on Investing, Bias, and Building Your Own Mental World
During a recent Q&A, Vitaliy Katsenelson was asked about how he avoids confirmation bias, Katsenelson responded, “Confirmation bias is something very natural to all of us… when I look at a stock… I try to talk to as many people about this as possible… and they start giving me bullet … Read More
Vitaliy Katsenelson: Beware Of The Relative Valuation Trap
During his recent interview with the CFA Society India, Vitaliy Katsenelson explained why investors need to beware of the relative valuation trap. Here’s an excerpt from the interview: Katsenelson: In this environment I think the strategy that works is kind of value investment strategy. Also you have to be very … Read More
Vitaliy Katsenelson: This Is The Time To Get Excited If You’re A Value Investor
During his recent interview with the Fatal Conceits Podcast, Vitaliy Katsenelson explained why this is the time to get excited if you’re a value investor. Here’s an excerpt from the interview: Katsenelson: As a value investor, I’ve never been more excited in my life, because it’s suddenly, stock picking is … Read More
Vitaliy Katsenelson: It Will Be Much More Rewarding To Be A Value Investor As Common Sense Comes Back To Markets
During his recent interview with Van Eck, Vitaliy Katsenelson explains why it will be much more rewarding to be a value investor as common sense comes back to markets. Here’s an excerpt from the interview: Katsenelson: Well, I think we see a lot fewer fads now than we did eight … Read More
Vitaliy Katsenelson: Prudent Investing Means Sometimes You’re Going To Look Like A Moron
During his recent interview with Military to Millionaire, Vitaliy Katsenelson explains why prudent investing means sometimes you’re going to look like a moron. Here’s an excerpt from the interview: Katsenelson: Let me tell you this story. This is true story. This is 2001, late 2001. The only reason I remember … Read More
Vitaliy Katsenelson: Great Value Investing Requires Thoughtful Arrogance
In his recent article Vitaliy Katsenelson explains why great value investing requires thoughtful arrogance. Here’s an excerpt from the article: As the great American philosopher Mike Tyson said, “Everyone has a plan until they get punched in the mouth.” Theory gives you the game plan (buy more when the stock … Read More
Vitaliy Katsenelson: Every Great Investor Has Gone Through Periods Of Pain & Self Doubt
In his recent interview with the This Week In Intelligent Investing Podcast, Vitaliy Katsenelson discusses how every great investor goes through periods of pain and self doubt. Here’s an excerpt from the interview: Katsenelson: Every great investor went through a period of pain. There was this great Canadian investor Peter … Read More
Vitaliy Katsenelson: Invest In Management That Have Skin-In-The-Game
In his recent episode of The Intellectual Investor Podcast, Vitaliy Katsenelson discussed the importance of investing in management that have skin-in-the-game. Here’s an excerpt from the podcast: Warren Buffett told a story about an insurance company where people were screamed at by senior management when they brought bad news. They … Read More
Vitaliy Katsenelson: How Much Margin Of Safety Do You Need
In this presentation with Indiana University MBA and MsF students, Vitaliy Katsenelson takes a deep dive into his approach to investing, including how to think about margin of safety. Here’s an excerpt from the presentation: In my firm this is a very important mental model. You can modify the hell … Read More
Vitaliy Katsenelson: Value Investors Will Prosper When The Party Ends
In a recent interview with Jack and Justin on the Excess Returns Podcast, Vitaliy Katsenelson provided some great insights into what it’s like to be a value investor in today’s high growth environment – but he adds – when the party ends, which it will, value investors will be the … Read More