I was on Bloomberg Radio with Cory Johnson and Carol Massar, discussing my latest article on Apple’s electric car and its consequences.
Five years ago, almost to the day, I was interviewed by David Galland, who worked at Casey Research at the time. This interview covered three topics: the Chinese overcapacity bubble, the Japanese debt bubble, and my sideways markets thesis. Five years is a long time, but with the exception of updating some statistics I really would not change anything.
Writing is a very weird experience for me. Sometimes it feels almost like an act of divine intervention. Not because of the divinity of it, but because of the intervention part.
Norma premiered in La Scala (the Mecca of opera in Millan Italy) in 1831. Casta Diva is one of the most challenging arias ever written for soprano. During the rehearsals before the premier Italian soprano Giuditta Pasta refused to sign it she said it was “ill adapted to her vocal abilities”.
Writing is a very weird experience for me. Sometimes it feels almost like an act of divine intervention. Not because of the divinity of it, but because of the intervention part. It’s almost as if I were a vessel for a guy (at least I hope it’s a guy) inside my head trying to communicate with my readers.
Can Apple still come up with breakthrough innovations? In September Apple introduced an iPhone with 3-D touch, Apple TV that has been turned into a gaming device and a larger iPad with a stylus that will take the tech giant into new niches. These products looked awesome, but they were just improvements. There was nothing…
I rarely share letters we write to IMA’s clients, but I decided to share this “Value Investor’s Manifesto” I wrote for our clients in July. It should be a helpful tool to frame recent volatility in an appropriate perspective.
“You know how difficult it is to explain to a nonparent the joy of having kids? The Apple Watch is the same thing. It’s hard to explain how great it is to someone who has never worn one.”
One plus one equals three: That is a business school definition of synergy. Two companies join forces, and the quality and profitability of the combined entity improves more than the arithmetical sum of the parts. On the other hand, when you combine two awful businesses you get the inverse synergy: Negative one plus negative one…
I wanted to share with you Beethoven’s Symphony No. 9. It is not a traditional symphony, because it uses voices in addition to instruments; thus it is called a choral symphony. Beethoven composed it when he was completely deaf.
I have a confession to make. I want my company to someday be called Katsenelson & Kids. That doesn’t have to be its official name, but I want to work with my kids. I want my kids to be value investors. I know I am supposed to want them to be doctors or nuclear physicists.
Your knee hurts, so you pay a visit to your favorite orthopedist. He smiles, maybe even gives you a hug, and then tells you: “I feel your pain. Really, I do. But I don’t treat left knees, only right ones.
Has the DNA of the global economy been gradually altered by endless injections of quantitative easing, morphing it into a freakish mutant? Are things that are not supposed to happen for centuries on end going to become common occurrences?
I wanted to share with you music that you may have heard in the movie Godfather. No, not Godfather 1 (though you can listen to that here), but Godfather 3. It is an opera by Pietro Mascagni called Cavalleria Rusticana (loosely translated: Peasant’s Honor).
Over the weekend I watched the documentary The Return of the Violin, and it had a tremendous impact on me. Watch it, even if you don’t care for classical music – this movie is so much more than its title implies.
What would you get if you crossed Warren Buffett, Richard Branson and Steve Jobs? Answer: Masayoshi Son, the Korean-Japanese, University of California, Berkeley–educated founder of one of Japan’s most successful companies, SoftBank Corp.
My interview with Roben Farzad @ Full Disclosure (50 minutes of pure wisdom, listen here)
Sir John Templeton, father of international investing, coined the term “points of maximum pessimism” — you want to buy when the news flow is horrible, because the bad news is likely to be more than priced into the stock. This is where I feel Tesco is today
On Saturday I was browsing TED talks and stumbled on this incredible talk by Itay Talgam, “Lead like the great conductors.” Even if you’re not a big fan of classical music, watch it to learn a lot about different management styles (I watched it five times!). I am a civilian when it comes to classical…
Putin’s World: Why Russia’s Showdown with the West Will Worsen I grew up hating America. I lived in the Soviet Union and was a child of the cold war. That hate went away in 1989, though, when the Berlin Wall fell and the cold war ended. By the time I left Russia in 1991, the…