MI137: Discovering Value Investments w/ Vitaliy Katsenelson

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 27 January 2022

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

IN THIS EPISODE, YOU’LL LEARN: 03:03 - How Covid-19 has changed the game of value investing. 17:24 - How Vitaliy ensures that managements incentives are aligned with that of the shareholders. 20:02 - Why buying great companies might not be a good investing strategy. 31:13 - Whether Vitaliy believes that 100% stocks can give investors a well-balanced portfolio. 35:54 - 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. Robert and Clay’s tool for picking stock winners and managing our portfolios: TIP Finance. Vitaliy Katsenelson’s website Contrarian Edge. Vitaliy’s book, The Little Book of Sideways Markets. Listen to Vitaliy’s article’s, here. Related episode: MI125: Investing Like Warren Buffett w/ Jake Taylor. Get a FREE audiobook from Audible. Check out our Investing Starter Packs about business and finance. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Read this episode’s transcript and full show notes on our website. 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 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.
0:02.4	The things that helped us in the past, those things will hurt us in the future.
0:06.1	Like price earnings, when they go up, it's a loan. It's not a gift. We have to pay it back.
0:12.5	When you borrow money, it's literally a loan. It's not a gift. And so there's going to be a lot of
0:18.3	mean reversion, a lot of... On today's show, I sit down to chat with Vitaly Katzenelson.
0:27.4	Vitaly is the CEO of Investment Management Associates and is the author of The Little Book of
0:32.4	Sideways Markets.
0:33.9	During the episode, I chat with Vitaly about how COVID-19 changed the game of value investing.
0:40.1	What Vitaly looks for in the companies he invests in, how he thinks about the discount rate
0:45.1	in his valuation process, why buying great companies might not be the best investment strategy,
0:50.8	whether a portfolio of 100% stocks can give investors a well-balanced portfolio and
0:56.9	much, much more. Without further delay, let's dive right into this week's episode with
1:01.3	Vitaly Katzen-Elson.
1:02.6	You're listening to Millennial Investing by the Investors Podcast Network, where your hosts,
1:08.8	Robert Leonard and Clay Fink, interview successful entrepreneurs,
1:12.7	business leaders, and investors to help educate and inspire the millennial generation.
1:23.8	Welcome to the Millennial Investing Podcast. I'm your host, Clay Fink, and on today's show,
1:29.0	I'm joined by Vitaly Katzenelson. Vitaly, welcome to the show.
1:32.7	Clay, how are you?
1:34.5	I am fantastic. I'm very excited to dive into today's topic of value investing.
1:39.9	Before we dive in, could you tell our audience a little bit about your background and how
1:44.2	you got to where you are today?
	...

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