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Value & Growth Demagogues

Listen on: iTunes | Google Podcasts | Online The following was excerpted from our Winter letter to IMA clients. I have a problem with both growth and value demagogues. Growth demagogues will argue that valuation is irrelevant for high-growth companies because the price you pay for growth doesn’t matter. They usually say this after a very extended move in growth […]

Tesla’s Stock Price Discounts Temporal Wormhole into the Future

Listen on: iTunes | Google Podcasts | Online Though originally written in 2020, this article still rings true today.  Tesla’s market capitalization just crossed $300 billion. It’s the largest car maker in the world, even larger than Toyota, which produced almost nine million cars in 2019 and had a market capitalization of $200 billion. Tesla’s market cap implies that the […]

Why The Survival Of Traditional Carmakers Is Far From Certain

This article is a small part of a 11-part analysis of Tesla, Elon Musk, and the EV industry by value investor Vitaliy Katsenelson. You can get complete analysis as an email series, PDF, EPUB or Kindle ebook here or email at [email protected]  Let’s go back to June 2008, when Apple introduced the iPhone 3G and Nokia was still the world’s largest phone maker. […]