Q&A with Barron’s

in 5 Minutes of Fame/FP: Latest by

  I was in interviewed in September 21 issue of Barron’s (see page 42).

VITALIY N. KATSENELSON SPENT HIS YOUTH in Murmansk, a city in northwest Russia perhaps best known to Westerners as a setting for The Hunt for Red October.

The Russian navy was a popular career track there. But Katsenelson, now 36, emigrated to the U.S. with his family in 1991, when he was 18. He took a keen interest in finance, earning undergraduate and graduate degrees at the University of Colorado/Denver. Since 1997, he has worked at Investment Management Associates, a Denver money manager with assets of about $60 million.  

 Katsenelson employs his active-value, or “buy-and-sell,” style in overseeing equity portfolios there: He’ll happily put money in cash when there aren’t enough compelling stocks around. Today, he maintains, the market is range-bound, meaning price/earnings ratios are under attack. In 2007, Katsenelson published Active Value Investing, a book that outlines his framework for portfolio management and stock-picking.

From Dec. 31, 2005, through June 30 of this year, his value strategy has earned an average annual total return of 0.64%, versus a 6.39% decline for the Standard & Poor’s 500. Barron’s spoke with him last week by phone.

read complete article on SmartMoney site – NO subscription required   or  read complete article on Barron’s site  – requires subscription

Vitaliy N. Katsenelson, CFA, is Chief Investment Officer at Investment Management Associates in Denver, Colo. He is the author of Active Value Investing (Wiley) and The Little Book of Sideways Markets (Wiley). His books were translated into eight languages. Forbes Magazine called him "The new Benjamin Graham".

Leave a Reply