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"It’s hard to talk clearly about investing and make sense to ordinary readers at the same time. Katsenelson gives a lucid explanation of today’s markets with sound advice about how to make money while avoiding the traps that the market sets for exuberant bulls and frightened bears alike."

  • Thomas G. Donlan
  • Barron’s

"A wonderful, grounded read for new and seasoned investors alike, Katsenelson explains in plain English why volatility and sideways markets are a stock picker’s best friend."

  • The Motley Fool

"A thoroughly enjoyable read. Provides a clear framework for equity investing in today s sideways and volatile markets useful to everyone. Clear thinking and clear writing are not often paired – well done!"

  • Dick Weil
  • CEO, Janus Capital Group

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 isn’t just a simplified version of “Active Value Investing.” Having written it 3 years before its predecessor, The Little Book also benefited from my experience in explaining its concepts in hundreds of interviews and dozens of presentation. The result is a more polished explanation of the material, geared to the layman.

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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