April 18, 2014

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TaylorMade JetSpeed Driver Set

Playing Good Financial Defense Can Sometimes Be Worth More Than Good Financial Offense

It’s time for what has become an annual reminder on the nature of building wealth: The importance of playing good financial defense.  Roughly 1 out of every 3.7 people reading this post earn more than $100,000 per year, or twice the median household income in the United States; some of you exponentially more.  This is […]

Weekly Wrap-Up

Wednesday Wrap-Up – April 16th, 2014

Here are more things I found around the Internet during my reading and work this week.  Start by watching this 78 year old grandmother ride her first roller-coaster, which Aaron sent me. Coffitivtiy – I love this tool!  It’s free!  It’s awesome!  If you like working to ambient noise, it creates the sound of a busy […]

Nike Stock

An $8,000,000 Investment Mistake of Omission

One of my favorite topics from mental model studies and investments are the tendency of people to focus on mistakes of commission rather than mistakes of omission.  This area has received some press in recent years as a result of people like John Bogle and Warren Buffett talking about the opportunity cost of spending too […]

Benjamin Zander Classical Music TED

Benjamin Zander on the Transformative Power of Classical Music (and a few Lessons for Business Leaders)

Beyond music, there are some big life lessons in this short video that will serve you well if you remember them for the rest of the time you’re on Earth.  He starts with a business lesson that demonstrates what makes some companies successful and others fail. Watching it immediately made me put on one of […]

Joshua Writing Notes

First, It Was the Money Bookmarks, Now the Record Books Themselves Are In Danger …

For years, I’ve used 11 3/4″ x 7 1/4″, 500-page, 35-ruled-lined-per-page, hardbound record books from Office Depot for my thinking time, article notes, investment calculations, and general observations.  I even mentioned them once in a mail bag response about my work system.  The protective cover, good size, weight, and numbered pages made it ideal.  A […]

Delicious Braised Red Potatoes with Chives and Lemon Recipe

You Have to Try This Recipe for Red Potatoes with Lemon and Chives

For my fellow cooks out there, America’s Test Kitchen has published a recipe for braised red potatoes with lemon and chives that is beyond delicious.  It immediately became our permanent recipe.  I can’t imagine having them any other way now that I’ve experienced these.  I highly recommend you go get the recipe for yourself.  It’s simple, […]

Caleb on the Golf Course

The Economics of the Golf Industry Caught My Attention Yesterday

When my younger brother received his early acceptance letter to medical school, all that remained was to wrap up a few credits for his Bachelor of Science in Biology and take the MCAT.  He made me promise that the day following the test, I’d clear my schedule and go golfing with him, so yesterday, Aaron, […]

Civilization Beyond Earth Screenshot 1

Sid Meier’s Civilization Beyond Earth To Be Released This Autumn

You have no idea how excited I am for the new Civilization announcement.  Sid Meier’s Civilization: Beyond Earth will be released this autumn, and allow players to colonize new planets after traveling into space.  The Civilization game series has cumulatively taken thousands upon thousands of hours of my life.  I only write about it occasionally, […]

Honey-Maid-Graham-Crackers

Mail Bag: Honey Maid Graham Crackers Goes After the Entire $241 Million

The potential dangers and rewards of calculated marketing bets on race, gender, and tattoos are the focus of this response … Dear Mr. Kennon, I’m trying to understand the rationale of the Honey Maid marketing team in taking on several social issues all at once that still divide America. If you aren’t aware (I imagine […]

Joshua Kennon Sim City April 2014

It’s Been One Year Since the Nightmare That Was the SimCity Launch

Now that SimCity allows offline play following an outright revolt among users, I’ve been running a simulation in the background during most of my office hours this week.  I am trying to create a highly educated, high-tech, high-net-worth city supported almost entirely by low tax revenues, which is requiring patience as a result of natural […]

Weekly Wrap-Up

Wednesday Wrap-Up – April 9th, 2014

The best weather in the United States, flying cars, why attack ads work, pixel art, private Internet searches, and more all made it into this week’s wrap-up of interesting links I found while doing my reading at the office. How Truly Great Pixel Art Is Created – If you love small, independent businesses, technology, art, […]

M&T Bank Annual Report

You Need to Read the 2013 M&T Bank Corporation Annual Report

The Internet problems we have experienced over the past two weeks began again, today, to the point we had to stop working.  There was a huge stack of annual reports that had arrived in the mail from those single framed stock certificates I acquired back when we started our first company, and so I grabbed […]

Mail Bag Mail Box Questions

Mail Bag: Equity Indexed Variable Annuities, Stock Market Losses, Mutual Fund Value Investing, and More

I’m working my way through the contact form and answering several messages at once. Mr. Kennon, Do you have any opinion on equity-indexed variable annuities?  I vaguely sort-of kind-of remember you mentioning them some years ago but can’t find the post or comment so I might have imagined it.  There was an article in The Wall […]

Mail Bag Mail Icon

Mail Bag: What Should a Person Do When They Think Their Business Idea Was Stolen or Heavily Copied?

If you’ve ever gone through something where you feel like this, you know exactly what he means … Hey Josh, I check in on your blog every few months and read up on what I have missed. I am a big fan. I was particularly interested in your post about loving CastleStory. It is painful […]

AIG Diversification

What AIG Can Teach Investors About Diversification

Imagine that back in 2007, you had $3,000,000 to invest on behalf of a private family investment partnership you were running.  You decide to split this into three different companies.  One of these was AIG, the insurance conglomerate. AIG shares fell from a high of $1,459.00 each to $6.60.  The Board of Directors had to […]

Mail Bag Joshua Kennon Pen

Mail Bag: Civic Courage and Boycotts

In this case, I cannot improve upon the words of conservative Supreme Court Justice Antonin Scalia, so I’ll copy and paste his response for most of my reply. Mr. Kennon, Do you think private donations and political activities should be kept anonymous or do you think the state of has a right to force people […]

Even More Posts

Jesse Livermore

Mail Bag: What Do You Think of Jesse Livermore?

Here’s a question about one of the most famous financiers of the 20th century … Josh, There is a maxim of which you are no doubt aware that retail investors quote Warren Buffett, while professional money masters quote Jesse Livermore.  You never talk about Livermore and I would like to know your thoughts on his […]

Wells Fargo and Company Dividend Stock

Mail Bag: Can We Get an Update on Wells Fargo and the KRIP?

The question about Wells Fargo & Company and the KRIP has come up several times in my inbox so please consider this a response to all of those messages, even if I didn’t happen to pick your particular message to post. Mr. Kennon, I enjoy the KRIP because it is easier for me to relate to […]

google_plus_7

This Is What a Kennon Green Company Memo Looks Like

For the past 4-5 days, the Internet provider around these parts has been having serious problems (which they deny despite being experienced by several people at multiple locations) that causes 10-20 second disconnects every 1-2 minutes, sometimes lasting for hours at a time.  If you’re lucky, you get a “Resolving …” error, or “Could not […]

Weekly Wrap-Up

Wednesday Wrap-Up – April 2nd, 2014

Okay, I hear you … I hear you.  I’ll try and be better about the Wednesday Wrap-Ups.  I had no idea you all looked forward to my random Internet finds during my work research and reading time in a way that is not quite clear from the page views alone.  Consider this a response to […]

Mandatory Sentencing Guidelines

This Is Why the People of the United States Implement Mandatory Sentencing Guidelines (Even Though They Often Go Horribly Wrong)

Mandatory sentencing guidelines in the United States often lead to absurd results, and in many cases, outright miscarriages of justice.  Yet, if you want to understand the psychological drive behind mandatory sentencing guidelines and how the political environment for their passage arises, there have been two recent cases of gross judicial neglect that serve as […]

Kansas City Symphony Prokofieff Joshua Kennon

An Evening of Rodrigo and Prokofiev at Helzberg Hall

After dinner at Pierpont’s in Union Station, we made our way over to the symphony hall, arriving a few minutes before the orchestra took the stage.  Tonight is a big departure from our usual Haydn, Mozart, and Beethoven.  Particularly of interest to us were the second and third groups on the program.  The second was […]

Creme Brulee with Berries

Pierpont’s Restaurant in Union Station

Aaron’s mom hadn’t been to the symphony here in town since the new performing arts center opened so we decided to take her to dinner and a performance.  I completely forgot it was tonight because I started my first Korean drama in two months a few days ago and had scheduled some time to watch […]

Wedding Rings New Class Status Symbol

Wedding Rings Are the New Indicator of Social and Economic Class

You need to read this magnificent article in The New York Times that breaks down the economic phenomenon we went over several years ago when we looked at the work of Harvard Professor Charles Murray, who demonstrated that a significant driver of income inequality in the United States was caused by a radical shift in the […]

Ben Graham list of good businesses

I’m Working My Way Through the 6th Edition of Security Analysis

There are a handful of books I re-read to refresh some of the timeless lessons I think are important.  One of them, which you can probably tell from some of my recent posts, is Security Analysis.  I recently started my way through the updated Sixth Edition, based on the 1940 text, and the clarity of thought never […]

Simone's Drive In

The Kennons, El Dorado Springs, and The Wall Street Journal

We talk so often about the divide that is slowly happening in the United States as a result of socioeconomic forces.  I did a double take this afternoon when I came across the front page of The Wall Street Journal involving a story based on this reality.  It has a profile detailing how vastly different life experiences […]