#17 The Writer - Vitaliy Katsenelson on Investing, Life Philosophy & a Scarcity Mindset

#17 The Writer - Vitaliy Katsenelson on Investing, Life Philosophy & a Scarcity Mindset

Author: Stephen Clapham's Podcast on Value Investing | Stockmarket Analysis | Equities December 15, 2022 Duration: 1:16:04

Vitaliy Katsenelson is an investor and writer. Born in Russia, he now runs an investment adviser in Denver which specialises in picking individual stocks and eschews the usual 60:40 portfolio with equities indexed. In this podcast we talk about investing, about his third book and about his life philosophy. Vitaliy has a wisdom beyond his years and his positive attitude can improve anyone’s life.

An illustration of this philosophy is his belief that scarcity is an essential concept that enables him to lead a more fulfilled life. US society is an aspirational society, it’s about abundance. But where there is abundance, we don’t value things. We all have varying levels of wealth, different health but on average a similar amount of time. And he views time as a scarce resource, which makes him value his time with his kids, so that the school run is no longer a chore but a privilege – he will only take his elder daughter to school another 400 times, so he wants to appreciate each time. I thought this was a wonderful demonstration of his mindful approach to life.

See the ⁠website⁠ for full show notes.

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Stephen Clapham hosts Behind the Balance Sheet, a detailed conversation series that pulls back the curtain on how elite fund managers really think. Each episode is built on the premise that understanding a company requires digging far deeper than headlines or simple ratios. You’ll hear Clapham engage with celebrated investors such as John Armitage, Mario Gabelli, and Bill Nygren, dissecting their actual processes for evaluating businesses and spotting market inefficiencies. The discussions are technical and substantive, focusing on practical frameworks for forensic accounting, navigating capital cycles, and rigorous valuation. This isn’t about hot stock tips; it’s about the disciplined craft of equity research and risk management. The podcast serves as a continuing education for anyone-from dedicated private investors and students to working analysts and portfolio managers-who aims to sharpen their fundamental analysis and develop a more professional, critical investment mindset. Tune in for a masterclass in the principles of value investing, delivered through candid talks with the practitioners who have consistently generated alpha. You’ll come away with a clearer sense of the questions that need asking before any capital is committed.
Author: Language: English Episodes: 65

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