Consequences are more important than probabilities
Why no amount of money is worth playing Russian Roulette
Takeaway
Survival is the only road to riches in investing
Peter Bernstein interview by Jason Zweig
Peter Bernstein was a famous author and asset manager who died in 2009. He's best known for "Against The Gods: The Remarkable Story of Risk", a book on the history of risk which has sold >500k copies.