Thoughts on Business, Politics, and Life from a Private Investor
Someone using the Facebook public profile of "God", as in the Good Lord Almighty, just reposted this image. Hat tip to Michael Clay for sharing it. The folks at Penn State might want to post this on the bulletin board. This is the perfect followup to the mental model examination of the whole Joe Paterno and Penn State scandal discussion from earlier. … [Read more...]
We often talk about avoiding wipe-out risk on this blog. In fact, avoiding wipe out risk is one of the main reasons to study mental models because it takes a lifetime to build a reputation and only a few minutes to destroy it. I can think of no better real-world case study than the Joe Paterno and Penn State debacle that has dominated the news cycle (and rightly so) for the past few days. There is a lot to learn and had any one of the people involved looked at the world through the lens of … [Read more...]
I'm going to let you in on a secret. It's not much of a secret for those who study economics or pay attention to the world. In fact, it's been known for some time except to the average guy on the street, who is busy living his life and supporting his family. He thinks the struggle is between the rich or the poor or between Democrats and Republicans. It's not. Most of what you are seeing in today's economy was predicted decades ago, including the timeline upon which it was going to … [Read more...]
The news is reporting that Steve Jobs, Apple co-founder, visionary, business leader, and major shareholder of Walt Disney and Apple, has passed away at 56 years old. I suspected, though hoped I was wrong, that this was inevitable when he resigned and insiders said the board meeting was "emotional". A man of this passion, dedication, and obsession doesn't turn over the reigns to the vehicle and platform he uses to influence the world unless he knows his time is up and has been given a very … [Read more...]
My younger brother, who as many of you know had a career in the United States military and now serves in the guard, will often talk in private to the family about how glad he was to see Senator John McCain defeated for President during the 2008 election cycle. From education funding to military policy, gay rights to general life philosophy, it's safe to say that he was not a fan of anything that McCain said or did. (The deal breaker for all of us was when McCain refused to support an … [Read more...]
Last night, in a joint session of Congress, the President of the United States finally did what I've been writing about for 10+ years: He proposed a 50% cut in payroll taxes for both workers and small business owners. For most of my life, I have railed against the payroll tax as a regressive burden on the poor, middle class, and those starting out trying to launch a new business. For many Americans, payroll taxes cut deeply into their pockets, taking money that could have been used to buy … [Read more...]
I am a big advocate for rationality and using a rational framework to manage your life. But you haven't heard me mock or disparage the doomsday group that has recently been in the news for its failed rapture prophecy that was supposed to occur on May 21st, 2011. Many followers of this cult cashed in their retirement savings, took out ads and held signs, gave away their possessions, took time off work, and made significant changes to their lives that will have ramifications for many, many … [Read more...]
HA! I told you this would happen once Illinois decided it was going to raise personal income tax rates by 75% (they ended up going a little lower than that - in the 65%-ish range). The news this morning features a story called "Neighboring States Gleeful of Illinois Tax Increase". Turns out, Missouri, Indiana, Kentucky, Iowa and Wisconsin are plotting in overtime to lure businesses away from the state. "It's like living next door to `The Simpsons' — you know, the dysfunctional family … [Read more...]
Given my two Wal-Mart inspired articles a few days ago, I thought this was germane. Wal-Mart is ending its profit sharing plan and upgrading it to include a $1,000 contribution to employee health care accounts so there is a greater cushion before workers have to pay medical deductibles plus moving to a system whereby they will match employee retirement contributions 100% on the dollar up to 6% of pay! This, along with other changes, had a net effect of a 4% raise for employees who have worked … [Read more...]
It looks like the United States Congress is starting to grow some backbone? Hmm ... The House of Representatives just passed a bill with overwhelming margins (348-79) that will give the Obama administration the authority to harshly sanction Chinese imports if Beijing doesn't stop artificially depressing the yuan, reducing the United States trade deficit. It will go to the Senate, where it will stay until after the mid-term elections in November. Should we get excited? Everyone knows … [Read more...]
Though the home renovations have gotten the most headlines due to their nature (constant onslaught of choices and tasks that need to be completed), one of the most important items on the agenda of the six-month project has been to drastically reduce my digital footprint. By the end of the program, I will have one personal presence [...]
This makes me sick. This high school is ranked in top 5% of high schools in the United States. The worst part of the video for me was the part where the kid says, “I was never taught that knowledge”. It’s not somebody else’s job to teach you, it is your job to seek out [...]
This is a great way to start the day … one of the reasons I love writing this blog. Joshua, [In American Households Continue to Deleverage But That Only Tells Part of the Story, you wrote] “The numbers are just figures on a sheet trying to explain human behavior. Study the behavior, what is driving [...]
We’ve been looking for a corn chowder recipe to add to the “permanent” on-demand recipe collection but most are geared toward summer when fresh corn on the cob is abundant in the Midwest. This allows you to use the rich pulp, corn juices, and kernels to create a delicious, thick chowder that can be eaten [...]
The best message I received all day in the usual flood of reader submissions … Hello Mr. Kennon, I am 24 yr old who has saved/invested incessantly since I was 18, and my portfolio just recently breached 6 digits! I have always had a similar mindset to you when it comes to the future value [...]
I'm a private investor, author, and business philosopher who started with nothing and was essentially retired by my early twenties thanks to my first Internet startup. I went to school on a music scholarship and spend my days doing what I want and growing Kennon Green Enterprises, LLC, the family holding company. Continue reading ...
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