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.

Cream and Butter Sauce with Romano Cheese Chicken and Sun Dried Tomato Closeup

Our Favorite Recipe for Blacked Chicken with Sun Dried Tomatoes with Romano Cheese, Cream, and Butter Sauce Tossed Into Fettuccine Noodles

A couple of nights ago, we tried another recipe adapted from the famous Marcella Hazan Italian cookbook.  It involved a cream and butter sauce, and was one of the original versions of Fettuccine Alfredo recipes brought to the United States. [mainbodyad]In our case, we were experimenting with different flavors and combinations so we changed it…

Running an Investment Case Study on Eastman Kodak Including the Bankruptcy

An Investment Case Study of Eastman Kodak: How the Bankruptcy of One of America’s Oldest Blue Chip Stocks Would Have Turned Out for Long-Term Investors

A Case Study of Eastman Kodak How the Bankruptcy of One of America’s Oldest Blue Chip Stocks Would Have Turned Out for Long-Term Investors One year ago, Kodak declared bankruptcy after more than 130 years in business as a leading blue chip firm that gushed profits for its owners.  I wrote Kodak’s demise at the…

Morningstar Updates It Berkshire Hathaway Class B Intrinsic Value Estimate

Morningstar Is Getting Closer On Its Intrinsic Value Figure for Berkshire Hathaway

It’s been 1-2 years since we talked about the intrinsic value of Berkshire Hathaway.  The last time I publicly commented in any meaningful way was to say that I thought Morningstar was wrong in its model.  This put me in the interesting position that rarely happens: I thought intrinsic value was higher than the analysts who were publicly writing about it.  Normally, I’m the one exclaiming that the estimates and variables used were too rosy.

Quincy Florida - The Town of Secret Coca-Cola Millionaires

How Quincy, Florida Became a Town of Secret Coca-Cola Millionaires

In the 1920s and 1930s, a banker named Pat Munroe in the small town of Quincy, Florida noticed that even during the depths of the Great Depression, otherwise impoverished people would spend their last nickel to buy a glass of Coca-Cola.  With good returns on capital, and a once-in-a-century valuation so low that the business was trading for less than the cash in the bank, “Mr. Pat”, as he was called, encouraged everyone he knew to buy an ownership stake in the firm.  He would even underwrite bank loans, backed by Coca-Cola stock, for his responsible depositors to encourage people to acquire equity.