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

Coca-Cola Plant

How Thomas and Whitehead Used Synthetic Equity To Build Massive Fortunes, While Simultaneously Creating Thousands of Coca-Cola Millionaires in the United States

In the late 19th century, a man named Benjamin Franklin Thomas decided he wanted to be rich.  He became obsessed with business, investing, and finding a single opportunity that would set him up for life, allowing him to live off his capital.  According to Constance L. Hays in her book The Real Thing: Truth and Power…

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Super Mario 3D World Large

A Handful of Rare Businesses Enjoy Annuity Streams That Can Generate Cash for Decades

For the past hour, my mind has been on the power of some businesses to capture annuity streams that pay dividends for years, even decades or generations, with very little additional work.  When you can get one of these in your portfolio, they pump out wealth as long as you update them every once in a while.  They are the closest thing to geese laying golden eggs that exist outside of fairy tales.

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Monopoly Go to Jail

A Significant Minority of the Population Is Wired to Steal (and Why This Matters If You Own a Business)

We talked about theft a couple of years ago but it’s on my mind, again.  I still struggle to come to terms with it, despite overwhelming, conclusive evidence that it is true: A small percentage of the population will steal, simply if given the opportunity. They won’t even need the stuff.  They may not even want…

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Douwe Egberts Acquisition

One of Europe’s Oldest and Most Secretive Families Has Been Using Its Private Holding Company To Buy Up The World’s Coffee Assets

I’ve watched in fascination over the past couple of years as German conglomerate Joh. A Benckiser has been quietly buying up the world’s leading coffee brands, acquiring Caribou Coffee for $340 million, Peet’s Coffee & Tea for $974 million, and my personal obsession, Douwe Egberts for $9.8 billion, among others.  The firm is the personal holding company of…

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