Vitaliy Katsenelson

Vitaliy N. Katsenelson
Born	1973 (age 51–52) Murmansk, Russian Soviet Federative Socialist Republic, Soviet Union
Nationality	American
Education	University of Colorado Denver (BS, MS)
Occupation(s)	Investor, Author
Employer	Investment Management Associates
Organization	Investment Management Associates
Known for	Range-bound ("sideways") market thesis
Title	CEO
Website	investor.fm

Vitaliy N. Katsenelson (born 1973) is an American investment manager and author. He is the chief executive officer of Investment Management Associates, a Denver-based investment firm. ^{[1] [2] [3]}

Early life and education

Katsenelson was born in Murmansk, then part of the Soviet Union, and emigrated to the United States with his family in 1991. He earned BS and MS degrees in finance from the University of Colorado Denver. ^[4]

Career

Katsenelson joined Investment Management Associates in 1997 and later became its chief investment officer; he is currently CEO. ^[3] He has also served as an adjunct faculty member at the University of Colorado Denver Business School. ^[5]

Publications

• Active Value Investing: Making Money in Range-Bound Markets (John Wiley & Sons, 2007).Katsenelson, Vitaliy N. (2007). Active Value Investing: Making Money in Range-Bound Markets. John Wiley & Sons. ISBN   978-0470053157 . Retrieved 19 October 2025.
• The Little Book of Sideways Markets: How to Make Money in Markets That Go Nowhere (John Wiley & Sons, 2010).Katsenelson, Vitaliy N. (2010). The Little Book of Sideways Markets: How to Make Money in Markets That Go Nowhere. John Wiley & Sons. ISBN   978-0470932933 . Retrieved 19 October 2025.
• Soul in the Game: The Art of a Meaningful Life (Harriman House, 2022).Katsenelson, Vitaliy (2022). Soul in the Game: The Art of a Meaningful Life. Harriman House. ISBN   978-0857199072 . Retrieved 19 October 2025.

Reception and recognition

The Financial Analysts Journal reviewed Active Value Investing in 2008, describing it as offering “unconventional insights into long-run stock market returns.” ^[5] In 2008, Forbes publisher Rich Karlgaard referred to Katsenelson as “the new Benjamin Graham” in discussing the book. ^[6] The Denver Post featured his range-bound thesis in 2007, and Barron’s profiled him in 2009 in “Home on the Range,” which discussed his buy-and-sell methodology. ^{[2] [1]} He has also been quoted on markets by major outlets including The Wall Street Journal and Bloomberg. ^{[7] [8]}

References

1. Strauss, Lawrence C. (September 21, 2009). "Home on the Range". Barron's. Retrieved 19 October 2025.
2. Svaldi, Aldo (December 18, 2007). "One step up, one step back". The Denver Post. Retrieved 19 October 2025.
3. Chancellor, Edward (September 9, 2021). "Chancellor: Tech growth comes at irrational price". Reuters Breakingviews. Retrieved 19 October 2025.
4. Mayer, Tom (June 21, 2022). "Investing in life: Vitaliy Katsenelson bares his 'Soul in the Game — The Art of a Meaningful Life' for all". The Cullman Times. Retrieved 19 October 2025.
5. Fridson, Martin S. (2008). "Active Value Investing: Making Money in Range-Bound Markets (a review)". Financial Analysts Journal. 64 (4): 89–90. doi:10.2469/faj.v64.n3.13 . Retrieved 19 October 2025.
6. Karlgaard, Rich (May 9, 2008). "Book Friday—Active Value Investing". Forbes. Retrieved 19 October 2025.
7. Patterson, Scott (February 28, 2010). "Even the Smart Guys Don't Always Get it Right". The Wall Street Journal. Retrieved 19 October 2025.
8. Pesek, William (February 28, 2010). "Harvard's Rogoff Gives Legs to China Crash Talk". Bloomberg. Retrieved 19 October 2025.