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: Calibration Errors Calibration errors are when people lack the genetic or cultural ability to calibrate communication based upon the situation, people involved, or other contextual clues. To understand calibration errors as a mental model, it might help to give you three real-world scenarios that would require the observer to calibrate the hyperbole. A…
The key to being fantastic at your chosen field is to reach what Charlie Munger called “testable fluency” in the basics so that you are able to perform the higher ideas like a meastro. This concept is simple: Mozart was able to compose so brilliantly because he could play almost anything by sight or ear.…
We’ve talked a lot about the importance of making sure your actions line up with the primary mission of your life. One way I am able to do that is constantly remember what that mission is by developing main life goals and lesser life goals.
If you were driving to work in Sacramento or San Francisco this morning, you might have heard me during your commute. I did a live interview with the Armstrong & Getty Show (airing on KSTE-AM in Sacramento, California and KNEW-AM Fox News Radio in San Francisco) at 7 a.m. Pacific Standard Time. For years,…
The Internet is buzzing with a clip from Terrell Owens’ reality show on VH1. In a recent installment of the program, T.O. begins to cry about the money troubles he faces after discovering that his finances aren’t adding up, his credit score is in the 500’s, he has mortgages due on real estate and he…
How much genetic material do you share with your biological relatives? Take a look at the family tree below and the figure in the red box is the percentage of genes your body has in common with your blood relatives.
Take a moment to think about your life. Picture your family. Think about your career. Now, ask yourself if the following phrase applies to you, right now, in this exact moment when discussing your life in general. There is no place in the world I would rather be and nothing in the world I would rather…
Tonight, I’m answering one of the most insightful Mail Bag questions I’ve ever received: Do I have any regrets?
This might be one of the oddest questions I’ve ever received … Dear Mr. Kennon, After your recent Walt Disney World vacation and the posts showing your travels, which of the Princesses is your favorite? Nati38c Unexpected question. I’ve never really thought or cared about the topic but, okay, if I had to choose, I…
After dinner and dessert at the Yachtsman Club restaurant, we made our way back to The Magic Kingdom because we have reserved seating for the fireworks show at Cinderella’s castle. The whole thing is themed as a dessert service but I doubt any of us are going to be able to eat anything else, though…