GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Wednesday, October 8, 2014

Vitaliy Katsenelson: US Corporations Overdue For Profit Margin Mean Reversion

He is also the author of 2 books about value investing: The Little Book of Sideways Markets: How to Make Money in Markets that Go Nowhere and Active Value Investing: Making Money in Range-Bound Markets.

During this 20+ minute interview, Jason asks Vitaliy if it's gotten harder to find good value stocks in the US markets with a margin of safety.

Vitaliy talks about stock market valuations, profit margins, share buybacks and why he thinks the US stock market is overvalued and will probably continue to go higher and be more overvalued.

Jason then asks Vitaliy about if he is looking at resource stocks and also foreign stocks and emerging market consumer stocks to find value.

Vitaliy then talks about the market assigning a higher market multiple to earnings and Jason asks Vitaliy about mean reversion on profit margins.

Vitaliy blames the Federal Reserve with its financial repression policies for forcing savers and investors further out the risk curve into MLPs and stocks to find any yield.

To wrap up the interview, Jason asks Vitaliy about Warren Buffett and also about his experiences growing up in the Soviet Union with central planning and if the US is headed down the same path as the Soviet Union.

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