Perkins offers one final charge, and a summary of his book: “Chase memorable life experiences, give money to your kids when they can best use it, donate money to charity while you’re still alive. That’s the way to live life.” Perkins admits, “I’ve given you an impossible task: to die with zero.” While he would like for everyone to perfectly optimize for this, he knows there are too many unknown variables for each individual, and he is okay if nobody does this perfectly. In hi

Between the years 1800 and 2000, roughly 15 billion people were born. Consider how different the world would be if the following 0.00000000004% of those 15 billion had not been born. Adolf Hitler Joseph Stalin Mao Zedong Gavrilo Princip Thomas Edison Bill Gates Martin Luther King As we read in chapter 6 regarding tail events, there are a very small number of things that have an outsized impact. This is true with financial markets, and as we study the history of investing, we