Kennon-Green & Co. Global Asset Management, Wealth Management, and Investment Advisory

Top 1 Percent of Net Worth and Wealth in the United States of America

How Much Money Does It Take To Be In The Top 1% of Wealth and Net Worth in the United States

What does it take to be in the top 1% of wealth in the United States? Many of you write me and ask that question, hoping someday to make it into the top 1% of net worth but not sure where that line gets drawn. I thought it might be useful to provide a reference to which I could point people in the future whenever they write, as well as make for some interesting afternoon reading for those of you who are curious about the nature of the economic world in which we live.

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Jamal Mashburn Owns Papa John's and Outback Steakhouses

Why Aren’t More Athletes Like Jamal Mashburn or Ulysses Bridgeman, Jr.?

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…

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Not All Your Investments Will Work Out at First … Just Look at The Buffalo Evening News and Berkshire Hathaway

In 1977, Berkshire Hathaway invested nearly 25% of its net worth into Buffalo Evening News, a newspaper in upstate New York. Buffett and Munger paid $32.5 million for the company, which had only earned $1.7 million pre-tax in 1976. The theory was the paper could launch a Sunday edition and increase profits substantially. A judge…

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“Tell Us How He Made It!” A Story of Warren Buffett, William Randolph Hearst, and Money

There is an apocryphal story about Warren Buffett that I always found useful. [mainbodyad]Years ago, when he was supposedly touring Heart Castle, the gargantuan San Simeon, California estate of American newspaper tycoon William Randolph Hearst, the tour guide spent hours highlighting the enormous scale and no-expense-spared luxuries.  He talked about how much money was spent…

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How to Measure Your Wealth Header

How to Measure Your Wealth

Years ago, I vaguely remember hearing someone comment that it was interesting how differently we measure wealth today compared to British society at the end of the 19th century.  This made me realize that most people don’t even know there is a difference; that there are primarily two ways you can think about measuring your wealth and which you choose for your own household will influence how you behave, the capital structure you employ, and even how you think about risk.

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Kennon-Green & Co. Global Asset Management, Wealth Management, and Investment Advisory