Kennon-Green & Co. Fiduciary Financial Advisor, Wealth Management, Global Value Investing

Jul132013
Dr Pepper Snapple Investment

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

Value Investing29 Comments

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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Jun272013
Superman Man of Steel Henry Cavill

Reflections on Superman and Mickey Mouse

Movies, Philosophy6 Comments

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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Jun232013
Laugh-O-Gram in Kansas City - Walt Disney's First Company

A Look at Laugh-O-Gram Films, the Business Walt Disney Bankrupted

Case Studies & Profiles8 Comments

In the past week, we’ve talked about the phenomenal success of an investor who bought shares of Walt Disney Productions (now called The Walt Disney Company), a decision that would have turned a 1,000 share position costing $13,880 into somewhere between $26,672,640 and $40,000,000 between 1957 and 2013.  We even looked inside the secret family holding company, WED Enterprises, Walt Disney used to build his own family’s wealth and retain power.  Most people don’t know that before those two firms, there was another that changed the direction of Walt Disney’s life.  It did not enjoy a fairy tale ending but it did lay the foundation for the things that came much later.

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