Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA), a value investing firm providing individual portfolio management. He is also the author of several books, including “Active Value Investing” and “The Little Book About Sideways Markets.” In this episode, we mostly discuss his latest addition, “Soul in the Game”.

Go to the episode page and make sure to follow us on Twitter, where we suggest books and do giveaways. We love to hear your thoughts so please give us a rating/review in your podcast player! Also, feel free to share great authors, books, and investors you want to hear on the show. /Eddie & Niklas with team

This episode was recorded on March 16, 2023.

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Episode Chapters

(00:00) Intro by Eddie & Niklas

(01:55) How Vitaliy’s passion for investing started

(03:53) Soul or Skin in the Game

(05:21) A Parallel to Jiro Dreams of Sushi

(07:32) Is it possible to have too much soul in the game?

(12:54) Stoicism, philosophy, and investing

(22:34) Once our art turns into a craft, it is time to move on

(27:47) Vitaliy’s work at IMA

(29:32) How to allocate your time

(32:51) Size as the enemy to great performance

(40:52) To see the long term, you need to survive the short term

(46:52) Good reasons for selling a company

(54:18) Where we are in the market cycle

(01:02:30) Living in the present while planning for the future

(01:06:45) Book discussions

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Books Mentioned

Active Value Investing - Vitaliy Katsenelson
The Little Book About Sideways Markets - Vitaliy Katsenelson
Soul in the Game - Vitaliy Katsenelson
Skin in the Game - Nassim Nicholas Taleb
Managing Oneself - Peter Drucker
Behavioral Investing - James Montier
The Little Book of Behavioral Investing - James Montier
The Little Book that Builds Wealth - Pat Dorsey
How to Think Like a Roman Emperor - Donald Robertson
Guide to a Good Life - William Irvine

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Companies Mentioned

Silicon Valley Bank
Qualcomm
Meta

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More on Vitaliy

Twitter

LinkedIn

Investment Management Associates (IMA)

The Intellectual Investor

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About the Podcast

Intro episode: https://www.redeye.se/podcast/investing-by-the-books/817383/0-intro-to-investing-by-the-books

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What is Investing by the Books?

Investing by the Books was founded by Henrik Andersson, Bo Börtemark, Mats Larsson and Michael Persson. It has published hundreds of book reviews in the past 10 years and operates on a non-profit basis.

Visit the website: http://www.investingbythebooks.com/

Follow on Twitter: https://twitter.com/Investbythebook

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What is Redeye?

Redeye is a research-centered boutique investment bank from Stockholm. Founded in 1999, Redeye cultivates investors through timeless knowledge, a humble attitude, and a strong focus on quality.

Visit the website: https://www.redeye.se/

Follow on Twitter: https://twitter.com/Redeye_

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Disclaimer

Notice that the content in this podcast is not, and shall not be construed as investment advice. This information is meant to be informative and for general purposes only. For full disclaimer, visit Redeye.se

Ep. 199: Good in Everything