Kennon-Green & Co. Global Asset Management, Wealth Management, and Investment Advisory

President Obama Foreign Tax Increase Proposal

About That Proposed One-Time $280 Billion Tax on Foreign Corporate Profits …

President Obama’s administration has announced that he wants to impose a one-time tax levy of up to 14% on the $2 trillion in foreign profits American companies have built up and not repatriated in exchange for making repatriation on future foreign profits that were subject to at least a 19% tax rate tax-free, encouraging domestic…

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I Believe USA Today’s Money Section Is the Worst Run Financial Publication in the United States

Hands down, I am strongly convinced the single most incompetent source of regularly published financial advice or business information of any major newspaper in the United States is the money section of USA Today.  The conclusions are often outright wrong, the understanding of accounting and economics vapid, and the headlines written to achieve nothing more than clicks without leaving the reader better informed than he or she was in the beginning.  It is the fiscal equivalent of fluff, only worse because fluff can be fun without leaving an inaccurate impression on something as important as national economic policy.

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Eli Lilly and the Insanity of Foreign Taxes

Eli Lilly and the Insanity of Foreign Taxes

I’m going through the corporate bond filings of pharmaceutical giant Eli Lilly just out of curiosity.  They have a huge patent cliff coming up, during which time as much as 40% of their revenue base will be exposed to generic competition.  I wondered what it would do to the risk metrics on the senior bonds so I pulled the Moody’s rating and reading over the figures as I listen to an old 1970s song called Snookeroo.

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Kennon-Green & Co. Global Asset Management, Wealth Management, and Investment Advisory