5 Enlightening Stories from Vitaliy Katsenelson

The most memorable stories in his own words from last week's Talking Billions

Introduction

Vitaliy Katsenelson, a Denver-based value investor “born in Russia and made in America”, brings a unique perspective to investing, business, and life philosophy. In our recent conversation, he shared numerous stories that reveal the wisdom behind his approach to living a meaningful life. These anecdotes, drawn from his personal experiences, illuminate the principles outlined in his book "Soul in the Game: The Art of a Meaningful Life." Each story offers a window into how Vitaliy's background, choices, and reflections have shaped his perspective on success, wealth, and happiness.

The Stories

1. The Tesla and the Honda Accord

In this revealing anecdote, Vitaliy reflects on an unexpected moment of envy that taught him about our relationship with possessions:

"I was looking at my Tesla Model 3 and looking at my friend's 20 year old Honda Accord, they're next to each other. And I remember feeling this feeling of envy of him. You would argue why? You would ask why? Because he did not have to worry where he's gonna park this car, he did not have to worry about the dances. This is when I realized that we don't own things, those things own us. And this is where I realized how little we should really attach our identity to owning these things."

This moment of clarity illustrates Vitaliy's stoic approach to material possessions and how luxury items often come with hidden costs that diminish our freedom and peace of mind.

2. Building a Workplace of Joy

Vitaliy's approach to creating a positive company culture reflects his values and priorities in both business and life:

"I have this privilege of creating a firm that I want to come to every day. And so people become very important... I want to be around people who are kind... I want to keep coming to the office and I wanna enjoy spending time. I want to be enjoying communicating with people around me... I am obsessed about if somebody needs help, and I have the skill to help them, I will help them and I'm not gonna make them feel like I'm taking my precious time to help them. No, because I want others to see that I'm doing this... I see like, I have almost like this parental pride a little bit, you know, because everybody here absolutely adores each other and they love helping each other. And I cannot tell you how proud and happy it makes me feel."

This story demonstrates how Vitaliy approaches leadership with an emphasis on kindness and mutual support, creating an environment that brings him joy rather than just profits.

3. From Soviet Russia to America with Six Duffel Bags

Vitaliy's immigration experience fundamentally shaped his perspective on abundance and scarcity:

"When we moved to the United States, I actually got to appreciate the, I went from scarcity to abundance. And it was a very interesting experience. And I think being in it, I would not change a single thing in my life... we came here with six duffel bags. Okay, that was it. And so we packed all our belongings in those six duffel bags."

This formative experience of leaving everything behind and starting fresh in America with just six bags of possessions gave Vitaliy a profound understanding of what truly matters in life and a deeper appreciation for abundance.

4. European Wednesdays

Vitaliy's deliberate creation of "European days" shows his thoughtful approach to work-life balance:

"Wednesdays became my European days, okay? On Wednesdays, my calendar is blacked out. If you wanna schedule anything with me on Wednesday, it's impossible because it's blacked out. On Wednesday, I can go see a movie, sometimes I have a three hour lunch with a friend of mine, it's my day. And that's a day where I can do anything. I can go to the coffee shop and be European for a day."

This practice reflects Vitaliy's intentional effort to incorporate the European value of "working to live rather than living to work" into his otherwise American lifestyle, creating space for leisure and enjoyment amidst his busy schedule.

5. The Investing Cave

Vitaliy's description of his reading sanctuary reveals his thoughtful approach to creating optimal conditions for deep thinking:

"I'm sitting in what I call my cave... this place right here is basically this laptop I'm talking to you on. It doesn't have anything installed but this. And usually it's off. Usually it's not on. And I sit in the chair behind me and I spend probably three or four hours a day reading. This is my way of kind of creating the place, kind of my digital oasis where I put my headphones on and I read. And I have this iPad right here and I have my 10Ks and earnings calls, et cetera. And this is basically my oasis for thinking."

This deliberate creation of a distraction-free environment shows how Vitaliy prioritizes deep focus and creates the conditions for quality thinking, a vital component of his investment process.

Conclusion

These five stories offer powerful glimpses into the philosophy that guides Vitaliy Katsenelson's approach to investing, working, and living. From his insights on material possessions to his deliberate creation of space for thought and leisure, Vitaliy demonstrates how thoughtful choices can lead to a more meaningful existence. His experiences—spanning from Soviet Russia to corporate America—have given him a unique perspective on what truly matters. These stories remind us that success isn't merely about financial achievements but about creating a life aligned with our values and filled with meaningful relationships. As Vitaliy might put it, it's about having "soul in the game" in everything we do.

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