Home » September 30, 2005 Entries posted on “September, 2005”

The Russian Front: Oil, Putin and Prosperity

September 29, 2005 – Minyanville.com Putin’s time ends in 2008. Will Russia’s begin?  I don’t follow Russian markets and recently I discovered that I don’t understand the psyche of Russian people (that discovery was made after talking to my high school buddies that still reside in Russia and my capitalistic dialect is not understood well [...]

September 30, 2005 | Posted in Stock Analysis | Read More »

Discussion on Katrina

I have a had a very interesting discussion with David Miller, a fellow contributor to Minyanville.com, on Federal government’s role in hurricane Katrina. David publishes Biotech Monthly and knows biotech industry inside and out.  I wrote the following: I think the Federal government is to blame in part for the level of destruction caused by [...]

September 28, 2005 | Posted in The Process | Read More »

Approach to risk management

Our approach to risk management shows through our research process. To finish first, first you must finish. Thus looking down (for risk) often is more important than looking up (for return). In a long only portfolio there are three interrelated pillars to risk management: diversification, stock selection, and valuation. Diversification Diversification – is the only [...]

September 28, 2005 | Posted in Stock Analysis | Read More »

Merck – Back of the Envelope Analysis

I played around with Merck’s financials this morning. It appears that MRK will be able to keep paying the dividend despite major blockbuster expirations (Zocor and Fosomax) without dipping substantially into its $13 billion war chest. Here is my back of the envelope analysis (excel spreadsheet). Vitaliy N. Katsenelson, CFA This article is written for [...]

September 7, 2005 | Posted in Stock Analysis | Read More »

Recently Commented

  • McCoy Penninger: I really enjoyed reading this.  Dead on.
  • I Need Money: So I guess is we hear Hoenig say that “the Fed should stick to its mission as lender of last...
  • I Need Money: So I guess if we hear Hoenig say that “the Fed should stick to its mission as lender of last...
  • frank r: whatever debt buildup exists in china can be solved overnight. Just pass a law. All these pieces of paper...
  • Every american: my impressions from ‘sideways’ (great book BTW) is that undervalued value stocks are the...