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.

Laugh-O-Gram in Kansas City - Walt Disney's First Company

A Look at Laugh-O-Gram Films, the Business Walt Disney Bankrupted

In the past week, we’ve talked about the phenomenal success of an investor who bought shares of Walt Disney Productions (now called The Walt Disney Company), a decision that would have turned a 1,000 share position costing $13,880 into somewhere between $26,672,640 and $40,000,000 between 1957 and 2013.  We even looked inside the secret family holding company, WED Enterprises, Walt Disney used to build his own family’s wealth and retain power.  Most people don’t know that before those two firms, there was another that changed the direction of Walt Disney’s life.  It did not enjoy a fairy tale ending but it did lay the foundation for the things that came much later.