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

Nov12012
Disney Buys Lucasfilms Darth Vader and Mickey Mouse

The Walt Disney Company Adds Lucasfilm To Its Stable of Investments for $4.5 Billion

Case Studies & Profiles, Stocks5 Comments

As you probably know by now, The Walt Disney Company has acquired Lucasfilm Ltd. in a $4.5 billion deal.  The studio owns franchises such as Star Wars and Indiana Jones.  Half will be paid in cash and the other half will be paid in newly minted shares of the company, diluting the existing owners.  However, the terms are so favorable that, frankly, it looks like George Lucas took a much lower price than he could have gotten elsewhere solely to have Disney protect the brand, given the latter’s reputation and massive resources.  Not even including the cash that Lucasfilm itself produces, Disney could pay for the acquisition in less than 6.7 months using the money generated by its vast empire.

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Oct242012
Coca-Cola Pepsi and Dr Pepper Have 88 Percent Combined Market Share

You Can Get Rich With Just One or Two Big Ideas In Your Lifetime

Portfolio Management, Stocks2 Comments

I often get messages from some of you expressing a desire to invest but not wanting to sign up for a life buried in balance sheets or income statements.  The good news: In investing, you can do extremely well if you have a few good, big ideas in your lifetime.  You don’t have to become a master of everything.  You just need to understand what you are doing, focus on it with the persistence of a pit bull, and be patient during the periods when there is nothing attractive to do, content to sit on cash.  There is no need to master every industry, or spend your evenings pouring over the disclosure documents of a pharmaceutical giant to make money.  It isn’t necessary.

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Oct222012
How to Remain Detached from the Stock Market and Treat Your Investments Like Private Businesses Header

How to Remain Detached from the Stock Market and Treat Your Investments Like Private Businesses

Portfolio Management, Stock Market12 Comments

How to Remain Detached from the Stock Market and Treat Your Investments Like Private Businesses When I was much younger, I kept seeing Benjamin Graham’s famous allegory called Mr. Market mentioned by great economists, investors, and financial historians.  I bought a copy of The Intelligent Investor to figure out why everyone was so enthralled with a book…

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Oct202012
Education and Affluence

New Study Finds The Ability to Delay Gratification Correlates with the Reliability of Adults in a Child’s Life

Economics4 Comments

Whether or not a person is capable of waiting for rewards, and thus succeeding in things that require long-term planning such as investing, money management, completing higher education, and sticking with difficult projects for the promise of richer payouts, may not be due to willpower alone.  In a new study, researchers Celeste Kidd, Holly Palmeri,…

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Oct182012
Staying Inside and Playing Video Games During October

The Best Kind of October Afternoon: Reading Annual Reports By the Fireplace and Playing Video Games for Hours

My Day In Pictures1 Comment

Early morning, a giant package arrived from FedEx containing the historical annual reports of a company I’ve been studying for the past couple of weeks.  I’ve built positions in most of the accounts under my purview, including my household portfolios.  Even though I have read the financials in PDF format, I want to go back through the hardcopy, line-by-line, and make sure there is nothing I am missing.

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