My Day In Pictures – Sunday, October 17th, 2010
Today, I wanted to write new content for Investing for Beginners at About.com, a division of The New York Times, and then go through the S&P stock sheets for fun.
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.
If Monopoly Were Real Life, How Rich Would You Be If You Owned the Entire Board?
If you wanted to be as rich as Mr. Monopoly, how much would it take? How high would your annual income be? Your net worth? Those are the question that I pondered sitting at my desk this morning. Out of pure curiosity, I began to adjust the values of the Monopoly property rents for inflation, using the last full-year CPI figures (2009), knowing that the game was originally released in 1935.
We Who Thought and Acted
I finished Atlas Shrugged a few hours ago. I loved it despite my not fully buying the philosophy of objectivism Ayn Rand espoused. I’ll discuss those criticisms in a future article. In nearly 1,200 pages, the single most important line to me sums up, in ten words, why I’ve been successful when so many others…
The Average School Teacher Is Paid More than Tom Cruise – A Basic Lesson in Economics
I’m going to prove that the average school teacher earns more money than Tom Cruise. No, seriously. In my article Exchange Your Best Efforts for the Best Efforts of Others, I was discussing the idea of Ayn Rand that money is a by product of virtue in a free society where no exploitation or theft…
Discover Your Economic Worldview with a Single Question
Much of a person’s economic worldview can be understood by answering a simple question: “Do you believe that all men, regardless of actions, behavior or character, are entitled to housing, three meals a day, health care, and retirement security?”.
Wal-Mart Ends Profit Sharing, Ups Retirement Plan to Offer 6% Dollar-for-Dollar Matching on 401(k) Savings, and More
Given my two Wal-Mart inspired articles a few days ago, I thought this was germane. [mainbodyad]Wal-Mart is ending its profit sharing plan and upgrading it to include a $1,000 contribution to employee health care accounts so there is a greater cushion before workers have to pay medical deductibles plus moving to a system whereby they…
My Day in Pictures – October 9th 2010
I had originally planned on reading today, then working on some detail work that needed to be completed but ended up heading over to the Country Club Plaza to go to the Apple store with my parents and sister. It turned into an entire day outing, which was wonderful. Here is my day in pictures.
Bond Duration and Your Bond Portfolio
Bond duration is one of the biggest and most important things to understand when managing a portfolio that includes bonds or other fixed income assets. Managed well, bond duration can give the chance for huge capital gains profits. Managed poorly, bond duration can wipe out a supposedly conservative bond portfolio in no time, leaving nothing…
Some Nascent Thoughts on the Concept of Objectivism Espoused by Ayn Rand
I woke up this morning, wrapped myself in the warmth of the substantial and soft terrycloth Brooks Brothers bathrobe, and went to have breakfast. Instead of the usual, I chose a blueberry muffin topped with brown sugar crumble and a cup of strong black coffee as I started reading Atlas Shrugged immediately, my eyes barely…
Atlas Shrugged by Ayn Rand Sort of Took Over My Life Today …
Given the historical importance of the book, and my decision to finally read it, my brief introduction to a few pages of Atlas Shrugged by Ayn Rand turned into an all day affair. I have some very significant reservations about the author’s stated philosophical belief system, Objectivism, but that deserves its own future essay. Suffice it to say, though she gets 70% of the equation correct by supporting free market decision making and individual liberty, I think her model of human behavior is incomplete and therefore not entirely rational and realistic when carried to its logical extreme.