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.
Many decades ago, Oxford Philosophy of Language Professor J.L. Austin and Columbia philosopher Sidney Morgenbesser reportedly had this exchange: “In English,” Professor Austin said, “a double negative forms a positive. However, in some languages, such as Russian, a double negative remains a negative. But there isn’t a single language, not one, in which a double positive can…
I’m not sure how relevant this question is to the broader audience, but since I wrote a response, I figured it wouldn’t hurt to get another mail bag published. Joshua, You read so much and tell us all that reading is the most important thing we should be doing. Seeing the books and your process…
Tonight we decided to try a new recipe for Saag Paneer with homemade Indian cheese. I realized I hadn’t posted any of the dishes we’ve been trying since one of the pineapple upside down cakes I baked earlier this month, so I made a point to stop and go get a camera. Unfortunately, we had…
Three years ago, I reviewed Amouage Jubilation XXV for Men, the scent released by the perfume house founded and owned by the Sultan of Oman in the Middle East. It’s a very heavy fragrance that, to this Westerner, seems far more appropriate for winter as it wraps around you like a blanket. It has top…
A short documentary has been released called Bankrupt by Beanie Babies that details the loss of $100,000 by one family during the 1990’s craze. Aaron just sent me the story, with a short note that read something like, “It’s sad because they should have applied to become a wholesale dealer and owned a shop.” He’s right.…
Irony is one of those words you see misused all over the place. Most people think they know what it means, but they don’t. It’s irritating to those who care about the spirit of words, and has even prompted New York Times articles discussing the constant abuse the term endures at the hands of society. To…
I happened to check the contact form this morning (we’re up to 1,000+ messages, some of which are really great questions or comments, that I do try to get to but my problem is time) and happened to see one from a few hours ago from a reader named Mark E. This absolutely made my…
After I explained the BHP vs BBL shares for BHP Billiton, I realized I may as well dive into the complexity of the Royal Dutch Shell Class A vs Class B shares. I had originally avoided it when writing about the shares I picked up for the KRIP the other day, but there seems to…
With the discussion of me buying some shares of mining giant BHP Billiton the other day for the KRIP portfolio, there seems to be some confusion about the difference between BHP vs BBL, and how those are related to the BHP and BBL ADR listings on the New York Stock Exchange. This is one of…
I made a note to myself at Club 33 in Disneyland to learn to make a good pineapple upside down cake after tasting how delicious theirs was. I wanted to find a version with the amaretto liquor flavor that they had, but haven’t had any luck, so instead, I decided to try a very highly…