TIP796: Die with Zero & Linde Stock Analysis w/ Clay Finck

You're listening to TIP. Today's episode will be broken up into two segments. During the first segment, I'll be discussing the book, Die with Zero by Bill Perkins. It's a book that challenges some of the core assumptions that we have related to money and living a good life. As investors, we spend a lot of time thinking about compounding, delayed gratification, and long term wealth creation, but Perkins flips the script and asks a different question. What's the point of accumulating wealth if you don't use it to create meaningful experiences along the way? Perkins' core idea is simple. Money should be a tool for maximizing life experiences, not a scorecard you optimize until the very end. He encourages readers to think carefully about the timing of our spending and the reality that our ability to enjoy experiences declines as we age. During the second segment, we'll shift gears to talk about a boring, but stable compounder in the stock market, Lendy PLC. From 1993 to year end twenty twenty four, Lendy's stock has compounded at 12% per annum versus the S and P 500 returning 8% over that same time period. Lendi is the world's largest industrial gas company supplying essential products like oxygen, nitrogen, and hydrogen, and it touches so many parts of our modern day economy. We'll explore its business model, competitive advantages, capital allocation, and what sort of returns shareholders can expect from here going forward. So with that, I hope you enjoy today's episode. Since 2014 and through more than 190,000,000 downloads, we break down the principles of value investing and sit down with some of the world's best asset managers. We uncover potential opportunities in the market and explore the intersection between money, happiness, and the art of living a good life. This show is not investment advice. It's intended for informational and entertainment purposes only. All opinions expressed by hosts and guests are solely their own, and they may have investments in the securities discussed. Now for your host, Clay Fink. Hey, everybody. Welcome back to The Investor's Podcast. I'm your host, Clay Finck. And during this first segment, I'll be sharing what I learned from reading the book, Die With Zero by Bill Perkins. I initially came across this book after my best friend told me that it was a must read. I thought this would be an interesting book to cover on the show because I found that many value investors think about more than just wealth accumulation. Living a good life is also about how we choose to spend our time, who we choose to spend our time with, and how we spend our money. Many people who enjoy accumulating wealth use money as their scorecard for success. And the main takeaway that Perkins wanted readers to walk away with was to realize that money should be used as a tool for creating memorable experiences, not just a scorecard to maximize until death. Perhaps controversially, he encourages readers to …