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Latest Articles

10 Life Lessons I Passed On to My Daughter on Her Bat Mitzvah

10 Life Lessons I Passed On to My Daughter on Her Bat Mitzvah

On January 11, 2026, my younger daughter, Mia Sarah, celebrated becoming an adult, at least according to Jewish tradition (she turned 12). This is what I told her

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Q&A From Imposter Syndrome to Authenticity

Q&A: From Imposter Syndrome to Authenticity

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The Church of Climate: Unintended Consequences in Energy & ESG Investing

The Church of Climate and the Law of Unintended Consequences

2

Q&A Money Should Buy Time, Not Things

Q&A Money Should Buy Time, Not Things

0

Our Sistine Chapel Long-Term Investing in Quality and Kindness

Our Sistine Chapel: Long-Term Investing in Quality and Kindness

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Videos

We Invest Micro but Worry Macro | CFA Society UK

We Invest Micro but Worry Macro | CFA Society UK

In this CFA Society UK Q&A, I talk about how value investing has evolved, why many investors think it is dead, and why that conclusion usually comes from misunderstanding what value investing actually is.
The Dichotomy of Control

The Dichotomy of Control

The Dichotomy of Control sounds extremely simple, but it’s incredibly powerful and it’s very difficult to actually execute it in daily life. And it’s basically says this.
The Key To a Good Life: Having Good Problems

The Key To a Good Life: Having Good Problems

What are the good problems? It’s very difficult to have a meaningful life and not be solving good problems.
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Popular Articles

How Stoicism Can Help You Have Soul in the Game

The Stock Market, The Economy, Possible Outcomes, How to Invest

This is part one of the winter seasonal letter I wrote to IMA clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before. Instead of conveying my message through storytelling, I tried to compress my thoughts into short sentences…
,

4

Chess Saga Continues web

Chess Saga Continues

1

The Real Country of Contrasts Our Unforgettable Trip to India

The Real Country of Contrasts: Our Unforgettable Trip to India

,

16

IMA is not for everyone. I'm fine with that!

IMA is not for everyone. I’m fine with that!

1

Why Value Investing Requires Thoughtful Arrogance

Why Value Investing Requires Thoughtful Arrogance

2

How Stoicism Can Help You Have Soul in the Game

How Stoicism Can Help You Have Soul in the Game

3

Author

Vitaliy Katsenelson

Vitaliy
Katsenelson

Author and
value investor

Vitaliy Katsenelson is the CEO of IMA, award-winning writer, author of Active Value Investing, The Little Book of Sideways Markets,  his latest book, Soul in the Game: The Art of a Meaningful Life, and a student of life.

Vitaliys Article Almanac 2025

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Investing

The Church of Climate: Unintended Consequences in Energy & ESG Investing

The Church of Climate and the Law of Unintended Consequences

When policies are judged by intentions rather than outcomes, you get Germany closing nuclear plants only to burn more coal.

2

Our Sistine Chapel Long-Term Investing in Quality and Kindness

Our Sistine Chapel: Long-Term Investing in Quality and Kindness

Warren Buffett calls Berkshire Hathaway his Sistine Chapel. This analogy haunted me for years until I realized we are building the exact same thing at IMA. It took me a decade to put into words, but I finally narrowed our firm’s entire reason for existence down to just two words. They sound simple, but living up to them is the hardest thing we’ve ever done.

0

Living and Investing with Intention: Navigating the AI Bubble & Geopolitical Risk

Living and Investing with Intention

2

Quality Matters: UK Policy Mistakes, Fever-Tree, and Watches of Switzerland

Quality Matters: From Paris to Portfolios

0

Q&A Series Research Process, Evaluating Country Risk and Tech Investments

Q&A Series: Research Process, Evaluating Country Risk and Tech Investments

1

The Intellectual Investor Breakfast - Berkshire Hathaway get together - Omaha 2026

Omaha 2026 Breakfast + Get Together

0

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Life & Philosophy

10 Life Lessons I Passed On to My Daughter on Her Bat Mitzvah

10 Life Lessons I Passed On to My Daughter on Her Bat Mitzvah

On January 11, 2026, my younger daughter, Mia Sarah, celebrated becoming an adult, at least according to Jewish tradition (she turned 12). This is what I told her

0

Q&A From Imposter Syndrome to Authenticity

Q&A: From Imposter Syndrome to Authenticity

I let myself be me when I write. I just made it sound easy. It is not. It comes down to confidence. It took me a long time – years, to get comfortable with being me on paper.

0

Q&A Money Should Buy Time, Not Things

Q&A Money Should Buy Time, Not Things

0

Learning to See

Learning to See

0

Operation Molly

Operation Molly

2

Charlie Kirk and the Cost of Courage

Charlie Kirk and the Cost of Courage

6

See More Life & Philosophy

Music

See More Music

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