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.
I Think Someone Is Stealing My Electricity … or the Power Company Is Making Up Numbers Okay, it’s not that I think someone is stealing my electricity per se, it is that I have eliminated nearly all other possibilities and have narrowed the situation down to a handful of unlikely scenarios that are the only…
After my mom, dad, and youngest sister stopped by this afternoon for banana birthday cake, my brother and, later, my sister-in-law, came over for dinner. We ended up opting for Swedish meatballs with lingonberry sauce and chunky red potatoes, while Tara, Aaron, and I caught up on last night’s episode of Breaking Bad, which none…
With me turning 31 this week (thank you all for the birthday wishes on this morning’s post!), Aaron offered to make any birthday cake I wanted. Now that we’ve tried most flavors following the past few years of non-stop cooking and baking, I decided to go with something slight off the beaten path: A banana birthday cake, finished with a cream cheese icing and chopped pecans.
Generally speaking, it’s a very bad idea to rely on Wall Street analysts to make decisions for you when it comes to your investment portfolio. Often, people who work on Wall Street display a strong bias toward overoptimism when it comes to future results, while neglecting the stable, boring companies at fair prices.
This is one of those inside-baseball questions that the serious, more-than-part-time investors out there will probably enjoy. Hi, Joshua. I could read your blog all day. Thanks for everything that you do. When I read your commentary on payout ratios, it seems to focus on EPS payout ratio, or dividend coverage. I don’t understand why you don’t…
Yesterday, I mentioned that we should make some sort of stew or pot roast so the house was filled with the warm, inviting scent of roasting meat and vegetables for most of the day. I didn’t think anything of it, and figured it would happen later in the week, but upon waking this morning, I heard grocery bags being unloaded and discovered the process had already begun to try a new pot roast recipe that included carrots, celery, potatoes, parsnips, beef broth, chicken broth, a finish of red wine, herbs, and a few other ingredients. As I’ve sat here going through some work I need to finish, the fragrance keeps getting stronger; it feels like a home should.
On an earlier post about the new Disney MyMagic+ program, which discussed capital budgeting from the investor’s perspective, there was a question left in the comments by Donald Pato about money market funds and money market accounts. I couldn’t fit my response in the comments box, so I am writing it as a stand-alone post…
When the Japanese attacked Pearl Harbor, the military brass quickly came to the realization that if the islands were to be captured, the invading army would have access to a large amount of United States banknotes, held by individual citizens, businesses, banks, and institutions, which they could then use throughout the world as there was…
I’ve seen a lot of rumblings on the Internet over the past few months about writing in cursive. From people complaining on Reddit that it is the most useless skill they have to the media uproar in the George Zimmerman trial when it was discovered that star witness couldn’t read cursive and had to have…
We’ve talked about income inequality a couple of years ago; specifically touching on the role of marriage patterns and assortative mating in household income levels. We’ve also discussed the economics of assortative mating more directly – the deeply ingrained tendency of people to marry other people like themselves with similar educational backgrounds, cultural values, personalities, and career orientations. One interesting result of this is that the women’s liberation movement in the 1960s and 1970s planted seeds of radical income inequality that are just now coming to fruition. Of course, it’s not the only cause of income inequality, but it certainly does play a meaningful role in the gap that has developed between the well-heeled and the penurious.