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

Dr Pepper Snapple Investment

An Example of Real World Value Investing Through the Lens of Dr. Pepper Snapple Group

One of the biggest dangers an investor faces when he or she decides to buy individual stocks for a portfolio is the temptation to chase something “exciting”, regardless of valuation.  That’s a foolish undertaking.  Valuation matters a great deal.  The exact same business might be a wonderful investment at 10 times earnings but a horrible investment at 50 times earnings.  It’s not enough for profits to rise, or dividends to expand; they have to offer a good return, based on what you paid, relative to a reasonable opportunity cost hurdle such as the long-term 30-year Treasury bond yield.

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Superman Man of Steel Henry Cavill

Reflections on Superman and Mickey Mouse

I was reading a film review by actor James Franco of the new Superman movie, which I saw at the midnight premier right before I hopped on the flight out to California for the weekend.  My family wanted to go, and I’ve always like Henry Cavill’s work since the adaptation of the seminal work of Alexander Dumas, The Count of Monte Cristo, so I thought it would be fun.  When we were in the theater, the talk turned to the actual character of Superman.

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