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 a 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.

In 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, Lindy plc. From 1993 to year-end 2024, Lindy's stock has compounded at 12% per annum, versus the S<unk>P 500 returning 8% over that same time period. Lindy 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.

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