What is the Value of Apple? How do we evaluate risk? - Ep 198

Jul 13, 2023

Over the next two weeks, I will share with you a few excerpts from my 25-page summer letter to IMA clients. 

Next week, I will be comparing my children to stocks and divulging my latest thoughts on Uber and Qualcomm. 

My purpose in sharing these excerpts is to give you insights into the investment process, so they all have the same focus – to teach you how to fish, not to provide you with the fish. So please take them as such.

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WHO AM I: Vitaliy Katsenelson was born in Murmansk, Russia, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him "The New Benjamin Graham." He's written for publications including Financial Times, Barron's, Institutional Investor, and Foreign Policy. Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. Soul in the Game is his third book and first non-investing book.

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