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