The Sketchbook of Wisdom:
The first print of my new book –
The Sketchbook of Wisdom
– is almost 90% over, and has already been bought across 30+ countries within 2 months of its launch.
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Peter Bevelin, in his wonderful book “All I Want To Know…” tells the story of Napoleon’s mother, Letizia. She couldn’t understand why Napoleon should take on the British since things were going so well. So, she sold all her French holdings and exchanged them for British pounds.
Why? She reasoned, if her son won, she should have a good life in the victorious nation. But if Napoleon lost, she would not be wiped out but still be ok since she had the pounds. She hedged against the possibility of facing a zero.
Letizia’s story is the perfect example of how to arrange our affairs in life to protect against the downside.