The ultimate compound return rate is acutely sensitive to fat tails.

Samuelson, however, hedged his personal bets - by putting some of his own money in Berkshire Hathaway.

In The Tricky Art of Co-Existing, Sandi Toksvig navigates life's little dilemmas with wit and not-so-common sense. You'll learn the strange history of common courtesy and the one true secret of social success: how to not drive everyone around you crazy.

"Average" isn't so hot at the race track given those steep track takes. "Average" is pretty decent for stocks, something like 6 percent above the inflation rate. For a buy-and -hold investor, commissions and taxes are small.

Shannon's most radical insight was that meaning was irrelevant.

Expectation is a statistical fiction, like having 2.5 children.

There were many at Bell Labs and MIT who compared Shannon's insight to Einstein's. Others found that comparison unfair - unfair to Shannon.