Two Barred Owls Moved In Behind the House
Two barred owls have moved into the trees behind the house and have been hanging out for a few weeks. They tend to fly together and one likes to stare into the windows, watching us inquisitively.
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.
Nectarine White Chocolate Cream Pie
Now that the white chicken chili is on the stove, it’s time to turn attention to the nectarine white chocolate cream pie on the other side of the kitchen. There are quite a few seasonal fruits available – nectarines, plums, cherries, and strawberries among my favorites – so I’m hoping to do as much experimentation as possible before autumn arrives and my attention gets turned to apples, cranberries, turkey, maple, and other flavors that tend to be best when the air has a bit of a nip in it. It almost seems impossible but before we know it, it will be time to put on sweaters and light the fires.
How to Make Our Favorite White Chicken Chili Recipe
This step-by-step recipe guide will walk you through making our favorite white chicken chili recipe. It’s delicious and I highly recommend you add it to your culinary skill set because it is easy, delicious, and comforting, particularly during the cold winters.
A Basic Overview of Corporate Inversions
There has been a lot of talk over the past few days of corporate inversion. Corporate inversion happens when an American company changes its domicile to another country by merging with a foreign entity. Inversions have been occurring at a rapidly accelerating rate. Pfizer attempted one of the largest inversions in history with the AstraZeneca merger that…
I Just Looked Up the Cost of an Education At My Alma Mater
This May will be 10 years since Aaron and I graduated from university. I just looked up the cost for the upcoming academic year, which includes tuition, room, board, fees, and books, and it’s running at a rate of around $53,000 per annum. Assuming even modest annual increases, a 4-year degree would cost just shy of…
Baking Pain de mie Bread in Pullman Pans
I normally like richer, specialty breads – the heavy kind you find in some European bread shop, each for its own purpose and recipe – but a recent trip to the grocery store made me curious about the type of ordinary bread most Americans are eating. After looking at the nutrition label of several major baking companies,…
Dealing with Business Rejection, the McDonald’s Franchise Disclosure Document, and a $114 Million Coffee Fortune
From time to time, I get messages from business owners or entrepreneurs who are discouraged and upset. Their family, friends, colleagues, bank officers, or suppliers don’t believe in what they are trying to do and they take it personally. This afternoon, as I sat in a McDonald’s restaurant having coffee and revisiting an excellent book called McDonald’s Behind the Arches that details the historical rise of one of the world’s largest real estate portfolio masquerading as a hamburger chain, I was reminded of a story I first read back in college that I think has a lot of powerful lessons.
Skillet Lasagna Is Not My Thing
We have been trying new recipes, again. One of the dishes that was on the list was a skillet lasagna. It’s popular because you can take ingredients you have at home and quickly put together a home cooked meal without a lot of effort. I was hesitant because, in my opinion, the entire appeal of…
Economic Reality Isn’t Always Reflected on Your Account Statements
It is a common mistake for inexperienced investors to look at the realized or unrealized gains or losses reported by their broker, using it as a proxy for economic reality. Total return, particularly on an after-tax basis, can be wildly different. Here is one real-world illustration of how the difference may arise.
The Mental Models of Cultural Hits – From Spongebob Square Pants to the Golden Girls
After my post on The Fresh Prince of Bel Air earlier, I began thinking about the media industry. One of the things I find most fascinating when studying history, businesses, mental models, and the human experience, is the unexpected cultural phenomenon. There are certain things that happen, at certain moments in time, that are only…