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Here is what our readers say:

"You are one of the most interesting, talented writers I know" A.G.
"Thanks for your ideas and advice over the last few years" D.M.
"I look forward to your emails. They are among the very few that pass my screen." J.C.
"The world needs more of voices like yours" B.W.
"I don't know anyone else that writes like you, shares market points of view like you, and makes things seem personal and approachable!" J.C.
"Thanks for your ideas and advice over the last few years." D.M.

"This book reads like a conversation with Vitaliy: deep, insightful, inquisitive, and civilized."

  • Nassim Nicholas Taleb
  • author of The Black Swan

"Vitaliy has done the world a significant favor; he shows, in erudite fashion, that value investing (the one tried and tested investment approach) holds in range-bound markets. But he doesn’t stop there, Vitaliy manages to go even further and provides you with a working process for evaluating investment in a world [of low returns]."

  • James Montier
  • Global Equity Strategist, Dresdner Kleinwort

For (a lot) more reviews by investment experts, click here

What I propose in the book (and practice in life) is active value investing. Instead of being a market timer, I’m a buy-and-sell investor, with a focus on valuing individual stocks. Find stocks that lie within your circle of competence, analyze them as to whether they meet your qualitative criteria, value them, determine an appropriate margin of safety, and you’ll thereby arrive at a price at which you’d want to buy them.

This book started out as a chapter, but ended up as a technical book with 75 tables and charts. It is a diehard investment professional’s guide to active value investment, with some humor sprinkled in. It was digested for the general public in the Little Book that came out in 2010.

book author

Vitaliy Katsenelson

I am the CEO at Investment Management Associates, which is anything but your average investment firm. (Seriously, take a look.)

I wrote two books on investing, which were published by John Wiley & Sons and have been translated into eight languages. (Even in Polish!)

In a brief moment of senility, Forbes magazine called me “the new Benjamin Graham.” (They must have been impressed by the eloquence of the Polish translation.)

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