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 have done it! My champion in Elder Scrolls: Skyrim, Azrah Gestahl, has reached Level 100 Conjuration, Level 100 Destruction, and Level 100 Enchantment. My overall Level is 47, so I’m about to hit the soft cap of 51 that the gaming forums say is in place. I’m in the process of creating a set of ultimate weapons and armor, upgrading my old “Ganon’s” series to a new, “Lord Ganon’s” series en homage to the legendary villain of The Legend of Zelda series. This allowed me to create a situation that got the mathematical cost of all destruction spells, regardless of their power, to zero. Infinite power. Unlimited magic.
I’ve never understood those who believe love is a weakness or somehow mutually exclusive from financial and professional success. Mind you, I’m not talking about infatuation or being in love with the idea of love, endlessly pursuing the flavor of the week or looking for a never-ending stream of feel-good butterflies and chocolates, but actual…
Taking advantage of the right stock matching and retirement investing benefits, it would be possible to almost instantly double your money due to company matches if you and your spouse worked for a company such as Wal-Mart Stores.
Saving money is important. Investing money is important. But if you don’t cash in some chips at some point in your life, all of your efforts will have been wasted because those claim checks on society will be taken by the government, spent by your heirs, or redistributed through fees and expenses by professionals such as attorneys left to sort out the inevitable lawsuits that result in the fight over your fortune after you’re gone.
With all of the Elder Scrolls: Skyrim activity going on in every corner of my life, I began thinking about the various video game platforms and the video game industry as a whole. Going back to this summer when we were playing Castlevania: Lords of Shadow, which I bought on a whim, caused me to realize something: No one in my household, or in the households of my extended family, takes the Nintendo Wii seriously.
Here are some words of wisdom I came across about portfolio management and building wealth from billionaire Charlie Munger. We’ve really made the money out of high-quality businesses. In some cases, we bought the whole business. And in some cases, we just bought a big block of stock. But when you analyze what happened, the…
In economics, opportunity cost is defined as the cost of not choosing the next, best alternative for your money or time. Everything in life has an opportunity cost. If you want to go to the movies with friends it means you can’t stay home and read a good book. If you want to spend cash on…
I want you to take a moment and put yourself in a scenario that will tell you a lot about your thought processes and inner priorities regarding individual well being versus group well being. You are married with three children. Your family is your highest priority. Your life is comfortable. You earn more than $100,000…
Mental Model: The Micawber Principle In Charles Dickens’s novel, David Copperfield, published in 1850, the eternal optimist Wilkins Micawber was known for saying “something will turn up”. He was poor but lived in expectation of becoming rich, sometimes foolishly taking on debts due to the belief. We have Micawber to thank for one of the…
As Gene Bedell wisely reminds us, nothing happens until something is sold. That is one of the greatest business truths you can ever learn. Get it engraved on the back of a watch, keep it in your pocket inscribed on a small sheet of paper, or repeat it to yourself silently, but learn this principle so…
