April 18, 2014

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

TaylorMade JetSpeed Driver Set

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 a community of people who know how to make money, in various forms, from a myriad of activities. If you haven't learned the flip side of the coin - how to stretch that money so i … [Read more...]

Wednesday Wrap-Up – April 16th, 2014

Weekly Wrap-Up

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 coffee shop around you!  It makes my productivity increase. Musicovery - Pick a genre, then pick your mood, and music will begin playing. What Tax Forms Looked Like … [Read more...]

An $8,000,000 Investment Mistake of Omission

Nike Stock

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 much on investment expenses, or walking away from a good holding.  Yesterday, Aaron and I went to Dick's Sporting Goods to look at golf supplies and as we made our way back to t … [Read more...]

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

Benjamin Zander Classical Music TED

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 my favorite pieces of classical music ever composed, the second movement of Beethoven's 7th symphony.  The buildup of the melody line to the entire orchestra screaming back down to n … [Read more...]

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

Joshua Writing Notes

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 single $50 book would last me for a few months as I tend to fill every inch of it, always throwing one in the backseat of my car or having it tu … [Read more...]

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

Delicious Braised Red Potatoes with Chives and Lemon Recipe

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, but the preparation they use makes all the difference. … [Read more...]

The Economics of the Golf Industry Caught My Attention Yesterday

Caleb on the Golf Course

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, my dad, Caleb, and I went 18 holes at one of the local golf courses then followed it up with dinner, to which dad treated us. It quickly became apparent that Aaron and I have focus issues … [Read more...]

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

Civilization Beyond Earth Screenshot 1

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, but there have been times when we've played games over the Internet for 6+ hours a sitting.  It's the perfect combination of strategy, politics, eco … [Read more...]

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

Honey-Maid-Graham-Crackers

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 you are given how much you read), they recently began making sure all married couples - including interracial couples, punk rock couples with tattoos and Mohawks, and gay … [Read more...]

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

Joshua Kennon Sim City April 2014

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 disasters that continue to cut into my capital budget.  My defense has been to issue municipal bonds only when absolutely necessary so I always have a maximum o … [Read more...]