Do You Have a Mental Model for Scarcity?

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"I have three kids, 21 words on, and two girls, 16 and eight. My 21 year old son, Jonah, is a student at the University of Boulder," he says. " scarcity is a very important mental model." He adds that as an investor, you should remind yourself when your portfolio will be down 30% or more it's not going to hurt too much.

Vitaliy Katsenelson is a value inevstor and CEO of Investment Management Associates. He is also the author of Soul in the Game: The Art of a Meaningful Life. In this episode, we discuss his journey as a value investor, how investors can practice thoughtful arrogance to make sound investing decision, the idea of being a student of life, stoicism, what having soul in the game really means, and much more.