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.
How to Make Money in Fable 2 – Or, How I Made My Fable 2 Character a Millionaire in a Few Days Without Cheating It’s remarkable that the same concepts that allowed me to be effectively retired by my mid-twenties allows me to frequently become rich in video games. That’s the nature of compounding. It…
One of the first things I did when my original company became successful was to order a Douwe Egberts coffee machine for the breakroom. For the uninitiated, Douwe Egberts coffee is the best in the world. There are no exceptions.
For a long time, I wanted to be a video game programmer. When I was still in elementary school, I saved up the $200 or so dollars for an entry-level version of Microsoft Visual Basic, went to trade shows to buy software on 5″+ floppy disks, and worked on creating my own version of the original Legend of Zelda in Microsoft Basic. At some point, however, my obsession with finance overcame everything and the idea of sitting in a skyscraper, reading stock reports, and compounding money for the sheer joy of building something eclipsed the video game dream.
By Charlie Munger (Warren Buffett’s partner at Berkshire Hathaway) Speech at Harvard Law School (1995) Transcription of The Psychology of Human Misjudgment, comments [in brackets] by Whitney Tilson. Note from Joshua Kennon: I’ve written a lot about Charlie Munger over the years, especially the influence he has had on my life and how we run…
Optimism bias, sometimes referred to as unrealistic bias or comparative optimism, is a particularly powerful mental model because it causes a person to believe he or she is less likely to experience a negative event than members of the general population with statistically identical risk factors.