TDI Podcast: Valuation Cliff (#945)
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TDI Podcast: Valuation Cliff (#945)

1:04:32 Nov 2, 2025
About this episode
Swiss cheese agreements. Overspending by big tech – could that be their  downfall? A rate cut in the dark and AI’s Impact on Future Workforce. Guest: Vitaliy Katsenelson is discussing the basic math of the markets, including where to actually find bargains. NEW! DOWNLOAD THIS EPISODE’S AI GENERATED SHOW NOTES (Guest Segment) Follow @andrewhorowitz Vitaliy Katsenelson, born  and raised in Murmansk, Russia (the home for Russia‘s northern navy fleet, think Tom Clancy‘s Red October). Immigrated to the US from Russia in 1991 with all his  family three brothers, father, and stepmother. His  professional career is easily described in one sentence: He invest, He educates, he writes, and he could not dream of doing anything else. He is Chief Investment Officer at Investment Management Associates, Inc (IMA), a value investment firm based in Denver, Colorado. After he received his  graduate and undergraduate degrees in finance (cum laude) from the University of Colorado at Denver, and finished his  CFA designation, he wanted to keep learning. He figured the best way to learn is to teach. At first he taught an undergraduate class at the University of Colorado at Denver and later a
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