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.
Mental Model: Gaslighting One of the big themes that I perpetually hit upon is that you, as a rational, responsible adult, should not outsource your thinking. When it comes to what matters in life, you must rely on your own judgment and analysis of the facts. In the words of Benjamin Graham, “You are neither…
Alchemy Potion Making Profit Calculator for Elder Scrolls: Skyrim Following a weekend of Thanksgiving meals, meetings, and celebrations, I’ve been trying to catch up on messages, write new content, finish some things for one of the companies, and master enchantment and potion making in Elder Scrolls: Skyrim. I found this online potion profitability calculator that…
One of the things on the “to find” culinary list is a recipe for the perfect gourmet macaroni and cheese and the perfect recipe for mango pineapple smoothies. Tonight was a chance to make a go at both of these things. [mainbodyad]Ideally, a great macaroni and cheese would be smooth, rich, and complex. Aaron…
I’ve read Architectural Digest since I was in middle school. Having my own canvas upon which to paint is enjoyable and turning out to be my favorite part of this iteration of the six-month project. Putting a room together is the same feeling as composing or writing a well-crafted essay. The aesthetics for the…
It’s nearly 1:30 a.m. and I am up working on the MacBook from an armchair in my living room as Aaron battles Draugr in Elder Scrolls V: Skyrim on Playstation 3. My plan had been to work out but instead I found myself drawn into a technological problem that was facing one of the…
I wanted to give you some insight into the approach and strategies Aaron and I use to get what we want in life; to build our home and businesses into a cohesive system that works to reinforce each other and bring us happiness and financial freedom, which includes freedom over our time.
In 1936, Parker Brothers released an add-on to the popular Monopoly board game called the Stock Exchange. Although the core Monopoly game had two asset classes – real estate and a few common stocks in the form of the four railroads and two utility companies – the Stock Exchange add-on brought the experience to a…
Mental Model: Horns Effect and Halo Effect One of the most powerful, and potentially harmful, mental models you will encounter in your life is known as the horns effect and halo effect. It can cloud your judgment, and because it is closely related to the mere association mental model, has the power to cause you…
My brother-in-law told me about the Elder Scrolls games, which I had never played. The new Elder Scrolls V: Skyrim was released on 11/11/11 and I had it pre-ordered for Playstation 3 back in September so it would show up on release day. Given the insanely great reviews for the series, it seemed like a good franchise to take on faith, just like we did with Fable II, Uncharted 2, Blue Dragon, Lost Odyssey, Castlevania: Lords of Shadow, etc. The critics don’t always get it right but game players normally do. In this case, both are thrilled with as near-perfect ratings as you can get.
We often talk about avoiding wipe-out risk on this blog. In fact, avoiding wipe out risk is one of the main reasons to study mental models because it takes a lifetime to build a reputation and only a few minutes to destroy it. I can think of no better real-world case study than the Joe Paterno and Penn State debacle that has dominated the news cycle (and rightly so) for the past few days.