Joshua Kennon is a Managing Director of
Kennon-Green & Co., a private asset management firm specializing in global value investing for affluent and high net worth individuals, families, and institutions. Nothing in this article or on this site, which is Mr. Kennon's personal blog, is intended to be, nor should it be construed as, investment advice, a recommendation, or an offer to buy or sell a security or securities. Investing can result in losses, sometimes significant losses. Prior to taking any action involving your finances or portfolio, you should consult with your own qualified professional advisor(s), such as an investment advisor, tax specialist, and/or attorney, who can help you consider your unique needs, circumstances, risk tolerance, and other relevant factors.
What does it take to be in the top 1% of wealth in the United States? Many of you write me and ask that question, hoping someday to make it into the top 1% of net worth but not sure where that line gets drawn. I thought it might be useful to provide a reference to which I could point people in the future whenever they write, as well as make for some interesting afternoon reading for those of you who are curious about the nature of the economic world in which we live.
Family and friends celebrated my 29th birthday today. Also, the stained glass Monopoly lamp arrived to match the ceramic Mr. Monopoly bank I bought in the middle of night when I couldn’t sleep due to working out too late in the evening and not being tired.
The ceramic Mr. Monopoly bank I bought the other day (er … middle of the night) arrived earlier than expected. I love it. I wish there were Monopoly art and collectibles to the same degree there is with Scrooge McDuck thanks to the work of Carl Barks.
My early afternoon today was spent in a hospital visiting someone very close to me recovering from surgery. As I was looking around at the capacity of the facility, it dawned on me that the quantity of coffee necessary to serve all of these people would require a reconstitution, grind-free system that had a reasonable…
Mental Model: Calibration Errors Calibration errors are when people lack the genetic or cultural ability to calibrate communication based upon the situation, people involved, or other contextual clues. To understand calibration errors as a mental model, it might help to give you three real-world scenarios that would require the observer to calibrate the hyperbole. A…
The key to being fantastic at your chosen field is to reach what Charlie Munger called “testable fluency” in the basics so that you are able to perform the higher ideas like a meastro. This concept is simple: Mozart was able to compose so brilliantly because he could play almost anything by sight or ear.…
We’ve talked a lot about the importance of making sure your actions line up with the primary mission of your life. One way I am able to do that is constantly remember what that mission is by developing main life goals and lesser life goals.
If you were driving to work in Sacramento or San Francisco this morning, you might have heard me during your commute. I did a live interview with the Armstrong & Getty Show (airing on KSTE-AM in Sacramento, California and KNEW-AM Fox News Radio in San Francisco) at 7 a.m. Pacific Standard Time. For years,…
The Internet is buzzing with a clip from Terrell Owens’ reality show on VH1. In a recent installment of the program, T.O. begins to cry about the money troubles he faces after discovering that his finances aren’t adding up, his credit score is in the 500’s, he has mortgages due on real estate and he…
How much genetic material do you share with your biological relatives? Take a look at the family tree below and the figure in the red box is the percentage of genes your body has in common with your blood relatives.
