Do Not Throw Away the Melon for the Seeds

Do not take the seeds and throw away the melon. – Traditional Chinese Proverb A few decades ago, Coca-Cola, one of the most profitable companies in the history of the world from a return on equity standpoint, decided that instead of repurchasing its own shares or increasing the dividend, it would diversify into other operations [...]

from Joshua Kennon

Within 12 Hours, We Declare War on the Letterman Jacket Industry

Last night, the shareholders of Mount Olympus Awards, LLC had a 4 or 5 hour scheduled meeting in a local office and solidified our plans for the business, which I discussed a few days ago (see Wholesale Chenille Letters, Patches, and Varsity Jacket Business Launching).  The end decision was we are going much farther than [...]

from Joshua Kennon

Common Characteristics of Value Investing Stocks

There are several common characteristics that often present themselves in stocks that are thought to be attractive to those who follow a value investing strategy.  These have been written about extensively by famous value investing firms such as Tweedy, Browne & Company, and even Benjamin Graham himself.  By understanding the traits that frequently manifest themselves with [...]

from Joshua Kennon