Episode 12: Vitaliy Katsenelson, CEO of Investment Management Associates

Vitaliy Katsenelson is a famous value investor and a CEO & Chief Investment Officer of Investment Management Associates. Vitaliy has written several books on investing, including Active Value Investing and The Little Book of Sideways Markets.

We spoke about value investing, Vitaliy's investment process, his view on diversification, his biggest mistakes, his bucket list, and many other things. 

Time stamp

00:40 Who am I

02:14 What’s Value Investing?

05:50 Is Warren Buffett a value investor or a GARP investor?

07:20 Diversified stock portfolio vs concentrated stock portfolio

09:50 When do you sell stocks

11:32 Case study: Twilio 

15:15 Vitaliy’s stock picking process

17:14 Learning from biggest losers: Electronic Arts 

22:14 The investment management Industry gets dumber and smarter at the same time

25:20 Time management between investing, writing, and having a family

28:07 Investment advice to non-investors: unusual budget

33:47 USSR influence on a future investor

37:38 From analyst to CEO

38:30 Blitz

41:51 Advice to youth

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Music: Bensound.com