We recently had the pleasure to speak with Vitaliy Katsenelson (@vitalyk) on StockTwits TV.  Vitaliy is the Chief Investment Officer of Investment Management Associates, a blogger at Contrarian Edge and the author of the recently published The Little Book of Sideways Markets.  We discussed the nature of sideways markets, how Wal-Mart exemplifies the past decade in stocks, the benefits of volatility to an active value investor and the trade-offs required in picking stocks. You can view the video in its entirety below:

Posts mentioned in the above video:

A decade of Wal-Mart (WMT) financials.  (YCharts)

Dividends matter.  (Abnormal Returns)

China – the mother of all grey swans.  (Scribd)