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.

Skyrim Pure Mage Strategy

My Pure Mage Strategy for Elder Scrolls Skyrim Is Based on the Late 1980’s Ganon Character from The Legend of Zelda

Video Games9 Comments

I ultimately decided upon a pure mage strategy my Elder Scrolls Skyrim character, Azrah Gestahl, based upon the early manifestations of Ganon in The Legend of Zelda series from the 1980’s.  Although my character is mostly good, serving as the Arch-Mage of the College of Winterhold, a member of the Imperial Army, and possessing a healthy penchant for destroying bandit hideouts, the general composition of skills leans heavily toward a very powerful mage in a robe capable of extreme conjuration and destruction, with very strong illusion, alteration, and regeneration knowledge.  I’m not talking about modern day Ganon, mind you.  I’m talking about Ganon as he was back then – magic artifacts, conjuring minions, blasting fireballs, all draped in a cowl as he sought world domination.

Ruffoni Stainless Steel Pots and Pans

I Took the Plunge and Bought the Professional Mauviel Copper Cookware Upgrades to the Kitchen, As Well as a Few Stainless Steel Ruffoni Pots and Pans

Food and Beverages, My Day In Pictures5 Comments

The gourmet food posts on the site are probably going to grow exponentially over the coming years.  I’d publicly debated various cookware as far back as last year and finally decided to take the plunge as part of the six-month May Day project.  Yesterday evening, I bought a set of copper Ruffoni pots and pans, which were going…

How a Family Holding Company Can Be Used to Transfer Wealth and Bind a Family's Economic Future Together - Header

How a Family Holding Company Can Be Used to Transfer Wealth and Bind a Family’s Economic Future Together

Business Strategy11 Comments

We’ve talked about how a holding company works in the past, provided a beginner’s explanation of holding companies, and even looked at two high profile private holding companies owned by America’s richest families, Walton Enterprises, LLC and Cascade Investment, LLC.  I even gave a very basic explanation over at About.com as to how family members can invest together through a limited liability company. Tonight, I thought I’d go over a very basic, very simplified explanation of a much more advanced concept that isn’t appropriate for most people but will show how a family holding company can be used to gift millions of dollars tax-free to heirs and others, while retaining control of assets and binding a group together economically.  This is a high-level, conceptual explanation.  Do not act on any of this without consulting with your own tax attorney, tax accountant, and other qualified advisers.  None of this is investment advice.  None of this is tax advice.  None of this is legal advice.

Mental Model by Joshua Kennon

Mental Model: Gaslighting

Psychology8 Comments

Mental Model: Gaslighting One of the big themes that I perpetually hit upon is that you, as a rational, responsible adult, should not outsource your thinking. When it comes to what matters in life, you must rely on your own judgment and analysis of the facts.  In the words of Benjamin Graham, “You are neither…