Announcement

Announcement: Aaron Sent Out Verification Emails for the Information Waiting List of Kennon-Green & Co. This Weekend

Over the weekend, Aaron sent out verification emails to everyone on the Kennon-Green & Co. information waiting list. If you received one of these emails, please respond at your earliest convenience. If you believe that you should have been on the waiting list but did not receive an email, check your email filter first to verify it wasn’t sorted into the wrong folder. If you still can’t find it, please call us.

What is a franchise?

What Is a Franchise?

The word “franchise” is used to describe an arrangement in which one business, the franchisor, allows another business, the franchisee, to use its name, trademarks, trade secrets, intellectual property, branding, operating systems, and internal support resources in a specific geographic area, sometimes with an exclusivity provision that guarantees no other franchises will be granted within a specific buffer zone so the franchisees aren’t cannibalizing sales from each other, in exchange for some sort of payment.

50-Year Maturity Sovereign Bonds in Euros

The Folly of Investing in 50-and-100-Year Bonds

Benjamin Graham once wisely observed that more money has been lost by investors “reaching for yield” than stolen at the barrel-end of a gun.  During periods of anemic interest rates on fixed-income securities, bank deposits, and cash equivalents, a combination of impatience, action bias, and desperation causes savers to do what they would otherwise consider extraordinarily foolish.