Active Value Investing | Vitaliy N. Katsenelson

Active Value Investing: Making Money in Range-Bound Markets

Extended Synopsis

One of the most significant challenges facing today’s active investor is how to turn a profit during times when markets are moving sideways. While bookshelves are overflowing with strategies designed exclusively for bull markets, there is surprisingly little guidance on how to navigate and capitalize on range-bound market conditions—which occur nearly half of the time. In Active Value Investing, respected portfolio manager Vitaliy Katsenelson addresses this critical gap, presenting a convincing case for proactive investing when the market is going nowhere.

This practical guide provides investors with the crucial know-how to modify traditional, fundamentally driven strategies to ensure they work effectively outside of booming market phases. Katsenelson introduces a robust "Quality, Valuation, and Growth" framework, offering fresh approaches to calculating the margin of safety and establishing rigorous buy and sell disciplines. Enriched with absolute P/E models, margin of safety matrices, and structural market cycle graphs, this book equips you with the analytical tools necessary to thrive regardless of broad market momentum.

Reader Targeting

• Active individual and institutional investors looking to generate returns in flat or sideways markets.
• Value investors seeking to refine their margin of safety and fundamental analysis frameworks.
• Finance students and professionals who require deep insights into strict buy and sell disciplines.

About the Author

Vitaliy N. Katsenelson, CFA, has been a dynamic force in the investment industry since 1994. He serves as a portfolio manager with Investment Management Associates, co-managing institutional and personal assets through rigorous fundamental analysis. An adjunct faculty member at the University of Colorado at Denver's Graduate School of Business, Katsenelson has also served on the boards of the CFA Society of Colorado and the Retirement Investment Institute.

Accolades & Awards

Highly regarded for his analytical rigor and educational approach to value investing, Katsenelson is a recognized thought leader and a regular, sought-after contributor to major financial publications including the Financial Times, The Motley Fool, and Minyanville.com.

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