MI Rewind: Discovering Value Investments w/ Vitaliy Katsenelson

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Investing, Education, Business

4.6 • 592 Ratings

🗓️ 14 April 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Clay Finck chats with Vitaliy Katsenelson about what Vitaliy looks for in the companies he invests in, how he thinks about the discount rate in his valuation process, and more. Vitaliy is the CEO of Investment Management Associates and is the author of the Little Book of Sideways Markets. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 03:03 - How Covid-19 has changed the game of value investing. 18:44 - How Vitaliy ensures that managements incentives are aligned with that of the shareholders. 21:22 - Why buying great companies might not be a good investing strategy. 30:53 - Whether Vitaliy believes that 100% stocks can give investors a well-balanced portfolio. 38:34 - What Vitaliy thinks about China’s rise as a global powerhouse and how it might affect the financial markets. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Vitaliy Katsenelson’s website Contrarian Edge. Vitaliy’s book, The Little Book of Sideways Markets. Listen to Vitaliy’s articles here. Related episode: Listen to MI125: Investing Like Warren Buffett w/ Jake Taylor, or watch the video. Get a FREE audiobook from Audible. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Vitaliy: Website | LinkedIn | Twitter Connect with Clay: Twitter HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.2	On today's show, we've started to reshare some older episodes that are my favorite for a few reasons.
0:08.6	One, we get a bunch of new listeners each week, so the new listeners may not have heard this episode before.
0:14.6	Two, even if you've been listening for a while, you may have missed this episode when it originally came out.
0:22.4	Or three, even if you've heard it before, it can be a great episode to learn from again. If you've already heard
0:27.0	this episode or you're not interested in hearing it, feel free to just skip it. There's no harm in
0:31.4	that, and you can pick up with our new episodes next week. All right, guys, that's all I had for you
0:36.6	for this new intro. Everything going forward
0:39.4	is going to be from the original show. Hope you guys enjoy it. On today's show, I sit down to chat with
0:47.9	Vitaly Katzenelson. Vitaly is the CEO of Investment Management Associates and is the author of The Little Book of Sideways
0:55.3	Markets. During the episode, I chat with Vitaly about how COVID-19 changed the game of value
1:01.5	investing, what Vitaly looks for in the companies he invests in, how he thinks about the discount
1:07.3	rate in his valuation process, why buying great companies might not be the best
1:12.0	investment strategy, whether a portfolio of 100% stocks can give investors a well-balanced
1:18.1	portfolio and much, much more. Without further delay, let's dive right into this week's episode
1:23.5	with Vitaly Katzenelson. You're listening to Millennial Investing by the Investors Podcast Network, where your
1:30.9	hosts, Robert Leonard and Clay Fink, interview successful entrepreneurs, business leaders,
1:35.9	and investors to help educate and inspire the millennial generation.
1:51.4	Welcome to the Millennial Investing Podcast. I'm your host, Clay Fink, and on today's show,
1:58.2	I'm joined by Vitaly Katzenelson. Vitaly, welcome to the show. Clay, how are you? I am fantastic. I'm very excited to dive into today's topic of value investing.
2:02.7	Before we dive in, could you tell our audience a little bit about your background and how
2:06.8	you got to where you are today?
	...

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