
The Missing Billionaires
A Guide to Better Financial Decisions
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Narrado por:
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Victor Haghani
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Jon Vertullo
Over the past century, if the wealthiest families had spent a reasonable fraction of their wealth, paid taxes, invested in the stock market, and passed their wealth down to the next generation, there would be tens of thousands of billionaire heirs to generations-old fortunes today. The puzzle of The Missing Billionaires is why you cannot find one such billionaire on any current rich list. There are a number of explanations, but this book is focused on one mistake which is of profound importance to all investors: poor risk decisions, both in investing and spending. Many of these families didn't choose bad investments—they sized them incorrectly—and allowed their spending decisions to amplify this mistake.
The Missing Billionaires book offers a simple yet powerful framework for making important lifetime financial decisions in a systematic and rational way. It's for listeners with a baseline level of financial literacy, but doesn't require a PhD.
Part One builds the theory of optimal investment sizing from first principles, starting with betting on biased coins. Part Two covers lifetime financial decision-making, with emphasis on the integration of investment, saving, and spending decisions. Part Three covers practical implementation details, including how to estimate the expected return and risk on a broad spectrum of investments.
PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.
©2023 Victor Haghani and James White (P)2024 Ascent AudioListeners also enjoyed...




















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I wouldn't throw this book out completely. I may try it again and see if it was me who is just impatient or ignorant. Just be advised this isn't a book that you can rish through and have a clear picture of what to do in your day-to-day life.
Financial jargon
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Great insights for building and using your wealth
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Play by play description of the stock market being a casino & how to play it…or not!
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Reads like an academic textbook
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45 minutes of introduction for a limited idea
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