The Intellectual Investor – Value Investing by Vitaliy Katsenelson

The Winter 2020/21 Client Letter that Vitaliy just sent to IMA clients was 27 pages long. Over the next few weeks, he’ll share excerpts from the letter with you, our dear podcast listeners. These excerpts will not focus as much on individual "fish" (stocks) as they do on "how to fish."

In this podcast, Vitaliy discusses why he writes such long letters, and how to use a Stoic technique to help manage the emotions that come with the stock market.

You can read these articles online here: https://contrarianedge.com/why-do-i-write-a-27-page-letter-to-clients/ and https://contrarianedge.com/dont-be-a-sophist/.

https://traffic.libsyn.com/secure/intellectualinvestor/Dont_Be_a_Sophist_v2_2021-01-25.mp3

The Winter 2020/21 Client Letter that Vitaliy just sent to IMA clients was 27 pages long. Over the next few weeks, he’ll share excerpts from the letter with you, our dear podcast listeners. These excerpts will not focus as much on individual “fish” (stocks) as they do on “how to fish.” In this podcast, Vitaliy discusses why he writes such long letters, and how to use a Stoic technique to help manage the emotions that come with the stock market.

You can read these articles online here: https://contrarianedge.com/why-do-i-write-a-27-page-letter-to-clients/ and https://contrarianedge.com/dont-be-a-sophist/.

The post Don’t Be a Sophist, and Why I Write 27 Page Letters to Clients – Ep 109 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

2020 will go into our memory banks as a very painful year. Stoicism, particularly the stoic practice of negative visualization, helped Vitaliy put 2020 into a broader historical context, and compare what happened, which was bad, to what could have happened. In this podcast, Vitaliy walks you through how Stoicism helped him put a challenging year into perspective.

You can read this article online here: https://contrarianedge.com/a-shift-in-perception-transforms-reality/

https://traffic.libsyn.com/secure/intellectualinvestor/A_Shift_in_Perception_Transforms_Reality_v1_21-01-07_MP3.mp3

2020 will go into our memory banks as a very painful year. Stoicism, particularly the stoic practice of negative visualization, helped Vitaliy put 2020 into a broader historical context, and compare what happened, which was bad, to what could have happened. In this podcast, Vitaliy walks you through how Stoicism helped him put a challenging year into perspective.

You can read this article online here: https://contrarianedge.com/a-shift-in-perception-transforms-reality/

The post A Shift in Perception Transforms Reality – Ep 108 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

Amazon.com has announced an online pharmacy offering. How big of a punch could this be to drug distributors McKesson, Cardinal Health and AmerisourceBergen? In this podcast, Vitaliy takes you through why he believes these businesses will be resilient to any potential attacks from Amazon, with a particular focus on McKesson.

You can read this article online here: https://contrarianedge.com/mckesson-amazon-will-not-throw-this-drug-railroad-off-the-tracks/

Disclosure: Read this before you buy your next stock

https://traffic.libsyn.com/secure/intellectualinvestor/McKesson_-_Amazon_Will_Not_Throw_This_Drug_Railroad_Off_The_Tracks_v1_20-12-17_MP3.mp3

Amazon.com has announced an online pharmacy offering. How big of a punch could this be to drug distributors McKesson, Cardinal Health and AmerisourceBergen? In this podcast, Vitaliy takes you through why he believes these businesses will be resilient to any potential attacks from Amazon, with a particular focus on McKesson.

You can read this article online here: https://contrarianedge.com/mckesson-amazon-will-not-throw-this-drug-railroad-off-the-tracks/

Disclosure: Read this before you buy your next stock

The post McKesson: Amazon Will Not Throw This Drug Railroad Off The Tracks – Ep 107 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In Part 2 of his interview with Jim Campbell, Vitaliy and Jim take a deep dive into assessing company management, nuanced thinking, and writing. To explore this, they examine the career of Masayoshi Son, the CEO of Softbank, in which Vitaliy's firm, IMA, used to own stock. Son's tenure has lots of lessons for investors, including the power of admitting mistakes. The conversation concludes with Vitaliy and Jim discussing their shared passion for writing, and the role it plays for them as investors and students of life.

You can listen to Part one here: https://investor.fm/interview-with-jim-campbell-ep-103

Disclosure: Read this before you buy your next stock

https://traffic.libsyn.com/secure/intellectualinvestor/Interview_with_Jim_Campbell_-_Part_2_v1_20-12-11_MP3.mp3

In Part 2 of his interview with Jim Campbell, Vitaliy and Jim take a deep dive into assessing company management, nuanced thinking, and writing. To explore this, they examine the career of Masayoshi Son, the CEO of Softbank, in which Vitaliy’s firm, IMA, used to own stock. Son’s tenure has lots of lessons for investors, including the power of admitting mistakes. The conversation concludes with Vitaliy and Jim discussing their shared passion for writing, and the role it plays for them as investors and students of life.

You can listen to Part one here: https://investor.fm/interview-with-jim-campbell-ep-103

Disclosure: Read this before you buy your next stock

The post Interview with Jim Campbell – Part 2 – Ep 106 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.

In this interview with Andrew Kleuss on Investors Hub, Vitaliy makes the case that concerns over Amazon's entry into the pharmaceuticals business are probably overblown. To parse this problem, Vitaliy differentiates between pharmacies and drug distributors, and analyzes the extent to which Amazon can compete with both. While Amazon might place some pressure on pharmacies over time, he explains how drug distributors' unique supply chains should remain robust against a competitive threat from Amazon.

https://traffic.libsyn.com/secure/intellectualinvestor/Amazon_Pharmacy_vs_The_Market__Distributors_v3_20-12-07_MP3.mp3

In this interview with Andrew Kleuss on Investors Hub, Vitaliy makes the case that concerns over Amazon’s entry into the pharmaceuticals business are probably overblown. To parse this problem, Vitaliy differentiates between pharmacies and drug distributors, and analyzes the extent to which Amazon can compete with both. While Amazon might place some pressure on pharmacies over time, he explains how drug distributors’ unique supply chains should remain robust against a competitive threat from Amazon.

The post Amazon Pharmacy vs The Market & Distributors – Ep 105 appeared first on The Intellectual Investor - Value Investing by Vitaliy Katsenelson.