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 I updated my Active Value Investing presentation and added new slides.  This file opens Power Point – better for viewing on the screen, this file opens PDF – better for printing.

Slide 17 – new slide on Japanese secular bear market

Slide 18,19,20,21 – updated valuation data for recent stock market rise, added a new 10 year [...]

The economic picture has changed dramatically since Active Value Investing came out. Over the last six months I’ve been getting a lot of questions from readers that have the same theme in common – now what?
This made me think that I should either update the book (write a second edition) or write a series of [...]

Israel Old Ruins by Naum Katsenelson

I’ll be attending Berkshire Hathaway’s annual meeting at the beginning of May.  After attending it last year, I had serious doubts about returning.  The Q&A session, which is really the reason to attend and consumes three quarters of the meeting, was not very fruitful.  Questions asked by attendees were “dumb” [...]

 In crazy times like today, all one could and actually should ask for is sanity. Yes, sanity–a clear mind free of noise to deal with the insanity that is thrust upon us by a volatile and noise-making machine also known as the stock market. We find ourselves glued to the computer screens or CNBC waiting [...]

February 23rd, 2006 – The Motley Fool 
By Vitaliy Katsenelson, CFA
After reading Jeremy Siegel’s book Stocks for the Long Run, one gets a strong sense of security about investing in the stock market. Over long periods, the market overcame catastrophes like a global influenza pandemic, the Great Depression, the Cold War, two Gulf wars, two world wars, [...]