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.
The past month has been an adventure in many ways. From celebrating Dorian’s 3rd birthday, to an unexpected trip to the Emergency Room, searching for commercial office space, and making it through usual crunch of tax season, it feels like a lot has happened in a short period.
We continue to make progress on the house in New Albany. The Louis XV piece I mentioned arrived from the antiques dealer and I won two paintings at auction today. Meanwhile, I found two potential investments I really want to own but need to wait on the price.
First quarter 2024 was one of the best of our lives and careers. We are making progress everywhere, companies across multiple sectors in corporate America are doing great, we’re starting to really cook some amazing food, again, I have begun taking advantage of the collapse in furniture prices, and, yes, the second installment of Final Fantasy VII’s remake was released.
Giving up all that avocado toast and those lattes seems to have added up in the end because Millennials are now wealthier than Baby Boomers were at the same age. However, there is some important nuance: The difference between Millennials who are doing well and those who are not is wider than it was when Baby Boomers were in their prime.
After a long search, we have selected New Albany, Ohio as our personal and business headquarters with all operations shifting in 2024. If you haven’t heard of New Albany, yet, you will. Sooner rather than later. Over the coming years, it will be home to one of the largest microchip manufacturing facilities on the planet.
As the United States returns to a normalized interest rate environment, things are going to get interesting. A few of my personal thoughts on the situation in which we, as a country, now find ourselves.
In recent weeks, Aaron and I have come to realize our life is in the middle of another major transition; one so large and transformative that we have come to call it the “Second Founding” as a shorthand to describe the complete overall that is in the midst of unfolding. It’s quick. It’s efficient. We both know what we mean when we say it. In a sense, it feels very much not like we are starting another chapter, but, rather, another book.
Buried thousands of pages within its newly-enacted buget, the State of Ohio just quietly created a new Ohio Homeownership Savings Account program that allows individuals and married couples in the Buckeye State to take a tax deduction in exchange for saving for the purchase of a house. I think this could be the start of something interesting, especially if it takes off across other states and/or the Federal government.
After careful consideration, Aaron and I decided that the Kennon-Green & Co. office will feature mixed media works by Carol Benson-Cobb, a wonderful artist located in Dallas, Texas.
After a long period of neglect, Nintendo launched Metroid Dread, a return to the classic side-scroller model for the legendary franchise. Developed by Spanish video game studio MercurySteam, the sales figures are extraordinary.