The Intellectual Investor

Almanac 2025

Each year, the IMA team and I gather everything I’ve written over the past twelve months and shape it into one comprehensive volume—Vitaliy’s Article…

1 hr ago • Vitaliy Katsenelson

December 2025

Learning to See

You can also listen to a narration of this article on iTunes & online.

Dec 19, 2025 • Vitaliy Katsenelson

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Surrounding Yourself with Greatness - Part 2

In Part 2, we shift from the streets of London and the economic lessons gleaned from black cabs and tax policies to a deeper dive into the essence of…

Dec 4, 2025 • Vitaliy Katsenelson

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November 2025

From Paris with Love, from London with Concern - Part 1

I’m writing this on the plane from London to Denver, not knowing where my subconscious will take me, but looking forward to the journey.

Nov 25, 2025 • Vitaliy Katsenelson

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Who Am I? (and my composers)

Who Am I?

Nov 20, 2025 • Vitaliy Katsenelson

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Omaha 2026 Breakfast + Get Together

The Intellectual Investor Breakfast - Berkshire Hathaway

Nov 13, 2025 • Vitaliy Katsenelson

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The Ability to Suffer - Part 2

Next week I’m heading back to Europe.

Nov 6, 2025 • Vitaliy Katsenelson

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October 2025

The Art of Rational Irrationality - Part 1

Today I am going to share with you the Fall letter I wrote to IMA clients.

Oct 30, 2025 • Vitaliy Katsenelson

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My Article in The Wall Street Journal

Today I want to share with you an article I wrote for The Wall Street Journal. The version they published — which you can read here — was edited for…

Oct 21, 2025 • Vitaliy Katsenelson

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Why Smart Investors Should Sit Out the AI Arms Race

Why Smart Investors Should Sit Out the AI Arms Race

Oct 16, 2025 • Vitaliy Katsenelson

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September 2025

Cost-Plus Capitalism: Lessons from HII and the Future of Naval Shipbuilding (Part 5)

In a few weeks, I’m going to a small investor conference in Richmond for a few days.

Sep 25, 2025 • Vitaliy Katsenelson

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Why We Bought Aker BP: A Technology-First Oil Company (Part 4)

This is Part 4 of my client letter on our purchase of Aker BP (AKRBP in Oslo).

Sep 18, 2025 • Vitaliy Katsenelson

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