Don’t Spend Money to Feel Better About Yourself

I happened to be reading a forum for venture capitalists and investment bankers and there was a section for people new to the industry who work in major financial centers such as New York. We’re talking about first year analysts earning between $60,000 and $90,000 including signing bonuses, and, if they are lucky, a $50,000 [...]

from Joshua Kennon

Value Investing from the Goldman Sachs Chief Investment Officer

Eileen Rominger, the Chief Investment Officer at Goldman Sachs, told Fortune magazine how she, as a value investor, ranks companies.  She had a very good answer.  It’s a sound process. Fortune Magazine: You’ve been a value investor for 30 years.  How do you decide whether a stock is attractively priced? Eileen Rominger: There are two [...]

from Joshua Kennon

Interesting Day Both for Our Businesses and the Stock Market

Exciting day … quite a bit of stuff happened at the companies, but I’m not comfortable discussing it (and probably won’t at any time in the future).  Suffice it to say, an opportunity presented itself that could have huge growth potential for one of our major businesses.  It just changed my plans for the rest [...]

from Joshua Kennon

Working on the Book and Investing

  I decided to start working on the book again today (forgive the HP notebook; I had to use a specific program that required Windows so the MacBook Pro is elsewhere until I recall it). I ended up watching the Goldman Sachs testimony to Congress. The culture of Wall Street doesn’t appeal to me. All [...]

from Joshua Kennon

Why Income Inequality Will Always Exist as Part of the Post-Industrial Revolution Global Economy

First: Before we begin, the education system in the United States over the past few decades has done such a poor job teaching basic logic that by virtue of the headline alone, it is statistically likely that you have already made a decision about whether or not this short essay on pay inequality is “good” [...]

from Joshua Kennon