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.
This is the second in a three-part post on narcissism; the topic du jour for our mental model study. We’ve been talking about narcissism for the past few days and one interesting thread that comes up throughout history is that narcissism, despite being horribly destructive and disruptive, can work, in rare situations, in the favor…
I’m continuing to make progress with the project I told you about a few weeks ago. This evening, I am tasked with emptying out much of the kitchen and replacing it with the Le Creuset cookware we bought earlier today now that the Ruffoni and Mauviel copper pots are scheduled to have a permanent, organized…
To my fellow Kansas City residents: You may want to head over to the Le Creuset store in Leawood, Kansas. The sales deals are unbelievable and this is a brand that isn’t always easy to find at a discount. Some pieces are marked down by 45%, if you buy more than $150 you get a…
A homemade beef stock is the foundation of so many recipes. Yet, making homemade beef stock can take a big time investment, not to mention needing bones, meat, and other ingredients on hand. One of the best tips I’ve seen came from the legendary cookbook author Julia Child, who found a way to treat canned…
For you fellow veterans of Skyrim, I stumbled across a solution for your sweet roll storage problems while in Leawood, Kansas today. Never did I think the culinary industry would hear our cries! But they have. It’s the small things in life that make it so beautiful.
This mail bag has to do with what appears to be a cheap company such as Apple. Joshua, AAPL just had record earnings….the best corporate earnings in human history. Of course, it tanked after earnings like it usually does. I feel like the whole market has gone mad trading on speculation instead of fundamentals. What…
A question about call options and valuation on stocks … Hi Joshua, First of all I would like to thank you for sharing your knowledge and experience on a variety of important subjects through your website and articles in about.com. I have read your articles about case studies in long term investment in various stocks and…
Mental models, which we use a lot on this site and a term which is borrowed from thinker Charles Munger, are a concept taken from a school of thought called critical thinking. They are ideas that allow us to take claims, ideas, and concepts, examining them to determine if they are accurate or understand what…
This is one of the best, most relevant real-world mail bag questions I’ve ever received. Dear Mr.Kennon, I have a question: How do you retain humility and empathy as a businessperson without constantly analyzing worth/profit/opportunity? Background behind the question: I am an 18 year old girl from the UK and I have just applied to…
A few nights ago, I found myself sitting in bed reading news stories on my iPad when I somehow ended up clicking through archives of recent Dear Abby letters. The parade of self-destructive, entitled, irrational, and defeatist thinking is staggering. Sometimes, I wonder if people truly want to be miserable. I feel like they are…