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.

Patti Page

You Will Be Forgotten Someday So Live a Life That Matters

Patti Page just died. If you are a member of my generation or younger, the odds are overwhelming that you have no idea who Patti Page was.  In the 1950’s, she was the third best selling artist of the decade and had lifetime album sales exceeding 100,000,000 records.  Given the lower population base back then, and the limited distribution channels, she was a far bigger cultural force in her generation than someone like, say, Beyoncé Knowles or Kayne West is today. Her song, “Tennessee Waltz” was the third best selling song of all time.  Very few people I know even recognize the song today, let alone could sing it.  

Why Are People Surprised That Savings Bonds Beat Stocks Over the Past 12+ Years?

I’ve noticed an array of articles exclaiming that savings bonds, including both the Series EE savings bonds and the Series I savings bonds, beat stocks over the past ten or fifteen years.  Nearly every time I make my way into one of these essays or news stories, I just shake my head because the surprise displayed by the men and women penning these pieces indicate a complete lack of competence.  Those of you who have any experience managing money or with history immediately know my objective: No asset class, per se, is sacrosanct.  What matters is the price you pay for the asset relative to how much underlying cash it generates.