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.

Intrinsic Value Book Featured

When It Comes to Books, I Don’t Care How Much Money I Spend or Waste Ruining Them

I’m a big reader.  Huge.  My library consists of thousands of titles, mostly all of which are non-fiction (biographies, finance, business, economics, psychology, history, ethics, etc.)  If I were to reproduce it, the cost would be somewhere between $12,000 and $30,000 depending on  how difficult it was to get your hands on many of the…

Wal-Mart Stores Stock Earnings Yield versus United States Treasury Bond Yields

Earnings Yields vs. Treasury Bond Yields as a Stock Market Valuation Technique

Using Wal-Mart Stores as an Example of Earnings Yields vs. Treasury Bond Yields [mainbodyad]I was up until 5 a.m. this morning reading through the past few years’ of Wal-Mart Stores, Inc. annual reports, filings with the SEC, analyst reports, transcripts, and other documents.  It is about time to have the businesses make another contribution to…

Mental Model by Joshua Kennon

Mental Model: Using the Primary Mission of Your Life to Determine the Hierarchy of Priorities Between Task and Relationship

Mental Model: Using the Primary Mission of Your Life to Determine the Hierarchy of Priorities Between Task and Relationship One of my mentors from early in my career shared a mental model that has been a fantastic guideline and framework through which I’ve conducted my life.  It involves determining the hierarchy between personal relationships and…