"It's hard to talk clearly about investing and make sense to ordinary readers at the same time. Katsenelson gives a lucid explanation of today's markets with sound advice about how to make money while avoiding the traps that the market sets for exuberant bulls and frightened bears alike." Thomas G. Donlan, Barron's "A thoroughly enjoyable read. Provides a clear framework for equity investing in today's #sideways' and volatile markets useful to everyone. Clear thinking and clear writing are not often paired - well done!" Dick Weil, CEO, Janus Capital Group "The bible for how to invest in the most tumultuous financial market environment since the Great Depression. A true guidebook for how to build wealth prudently." David Rosenberg, Chief Economist & Strategist, Gluskin Sheff + Associates Inc. "A wonderful, grounded read for new and seasoned investors alike, Katsenelson explains in plain English why volatility and sideways markets are a stock picker's best friend." The Motley Fool, www.Fool.com Praise for Active Value Investing "This book reads like a conversation with Vitaliy: deep, insightful, inquisitive, and civilized." Nassim Nicholas Taleb, author of The Black Swan "Thoroughly enjoyable . . for the thoughtful and often entertaining way in which it is delivered...Katsenelson takes his reader step by step into the mind of the value investor by relating, in a fictional addendum to Fiddler on the Roof, the story of Tevye's purchase of Golde, the cow. He also describes his own big-time gambling evening (he was willing to lose a maximum of $40) and that of a half-drunken, rowdy fellow blackjack player to stress the importance of process. He then moves on to the fundamental principles of active value investing. What differentiates this book from so many others on value investing is that it describes, sometimes through the use of case studies, the thinking of a value investor. Not just his models or his metrics but his assessments. Katsenelson is an empiricist who weigh