Joshua Kennon is a Managing Director of Kennon-Green & Co., a private asset management firm specializing in global value investing for affluent and high net worth individuals, families, and institutions. Nothing in this article or on this site, which is Mr. Kennon's personal blog, is intended to be, nor should it be construed as, investment advice, a recommendation, or an offer to buy or sell a security or securities. Investing can result in losses, sometimes significant losses. Prior to taking any action involving your finances or portfolio, you should consult with your own qualified professional advisor(s), such as an investment advisor, tax specialist, and/or attorney, who can help you consider your unique needs, circumstances, risk tolerance, and other relevant factors.

Coca-Cola Christmas Tree Copyright Joshua Kennon

A Coca-Cola Christmas

You can tell what I’m studying because I become completely, totally, hopelessly obsessed with it; the recent posts about the structure of the bottlers, the biographies of past executives, the SEC disclosures, the look inside the factories, the custodial trusts for the nieces and nephews and the DRIP for my sister, the discussion of deferred taxes as a way to leverage investment returns without debt, and now, even the Christmas tree.  It’s always Coca-Cola.

Coca-Cola Plant

How Thomas and Whitehead Used Synthetic Equity To Build Massive Fortunes, While Simultaneously Creating Thousands of Coca-Cola Millionaires in the United States

In the late 19th century, a man named Benjamin Franklin Thomas decided he wanted to be rich.  He became obsessed with business, investing, and finding a single opportunity that would set him up for life, allowing him to live off his capital.  According to Constance L. Hays in her book The Real Thing: Truth and Power…

Super Mario 3D World Large

A Handful of Rare Businesses Enjoy Annuity Streams That Can Generate Cash for Decades

For the past hour, my mind has been on the power of some businesses to capture annuity streams that pay dividends for years, even decades or generations, with very little additional work.  When you can get one of these in your portfolio, they pump out wealth as long as you update them every once in a while.  They are the closest thing to geese laying golden eggs that exist outside of fairy tales.

Dies Irae Principle

The Dies Irae Principle

I’ve been thinking about how differently people see the world and how that influences their view of events.  Something that rolls off one person’s back can cause another to spend a week sobbing in bed, barely able to contain their grief or embarrassment.  What is a minor setback to one person can be a career-ending…