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

The Intelligent Investor Benjamin Graham

Book Recommendation: The Intelligent Investor by Benjamin Graham

The Intelligent Investor is the portfolio management book written for the masses, made famous, in part, by the fact that it was what attracted legendary investor Warren Buffett to study under author Benjamin Graham at Columbia University.  There are several different versions, updated to reflect the time in which they were published, all offering unique…

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Cream and Butter Sauce with Romano Cheese Chicken and Sun Dried Tomato Closeup

Our Favorite Recipe for Blacked Chicken with Sun Dried Tomatoes with Romano Cheese, Cream, and Butter Sauce Tossed Into Fettuccine Noodles

A couple of nights ago, we tried another recipe adapted from the famous Marcella Hazan Italian cookbook.  It involved a cream and butter sauce, and was one of the original versions of Fettuccine Alfredo recipes brought to the United States. [mainbodyad]In our case, we were experimenting with different flavors and combinations so we changed it…

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Running an Investment Case Study on Eastman Kodak Including the Bankruptcy

An Investment Case Study of Eastman Kodak: How the Bankruptcy of One of America’s Oldest Blue Chip Stocks Would Have Turned Out for Long-Term Investors

A Case Study of Eastman Kodak How the Bankruptcy of One of America’s Oldest Blue Chip Stocks Would Have Turned Out for Long-Term Investors One year ago, Kodak declared bankruptcy after more than 130 years in business as a leading blue chip firm that gushed profits for its owners.  I wrote Kodak’s demise at the…

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Morningstar Updates It Berkshire Hathaway Class B Intrinsic Value Estimate

Morningstar Is Getting Closer On Its Intrinsic Value Figure for Berkshire Hathaway

It’s been 1-2 years since we talked about the intrinsic value of Berkshire Hathaway.  The last time I publicly commented in any meaningful way was to say that I thought Morningstar was wrong in its model.  This put me in the interesting position that rarely happens: I thought intrinsic value was higher than the analysts who were publicly writing about it.  Normally, I’m the one exclaiming that the estimates and variables used were too rosy.

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Quincy Florida - The Town of Secret Coca-Cola Millionaires

How Quincy, Florida Became a Town of Secret Coca-Cola Millionaires

In the 1920s and 1930s, a banker named Pat Munroe in the small town of Quincy, Florida noticed that even during the depths of the Great Depression, otherwise impoverished people would spend their last nickel to buy a glass of Coca-Cola.  With good returns on capital, and a once-in-a-century valuation so low that the business was trading for less than the cash in the bank, “Mr. Pat”, as he was called, encouraged everyone he knew to buy an ownership stake in the firm.  He would even underwrite bank loans, backed by Coca-Cola stock, for his responsible depositors to encourage people to acquire equity.

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