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.

Cool Words

Yeah, Right

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…

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Mail Bag: Applying Value Investing to 3rd World Countries

I hesitate, strongly, about publishing this response.  I’m not sure it is good for me to advocate what I would do in this situation as it might discourage people by making circumstances seem hopeless when hope is what is needed; it might even exacerbate the macroeconomic problem while solving the individual household challenge.  Still, it’s the only honest answer I can give because this is what an analysis of the situation leads me to conclude.

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I Can’t Seem to Stop Myself from Buying Nestlé

I spent the past few days updating some of my own internal case studies, spreadsheets, and other documents, as well as wrapping up a few things that needed to be crossed off the agenda for the private businesses.  I ended up putting together a collection of visual references covering some of the long-term holdings I keep for my household, among them Nestlé SA following my post on Monday.

Alanis Morissette Ironic YouTube

The 4 Types of Irony You’ll Likely Encounter in Modern Life

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 spot, and utilize, irony, requires, as the paper puts it, “sophisticated writing” that the author “counts on the reader to recognize”.  It takes skill.  It is going to go over most people’s head a lot of the time.