The Secret to Your Financial Success Is Survival and Paranoia

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The Forbes 400 list of the richest Americans has, on average, 20% turnover per decade for causes that don't have anything to do with death or transferring money to another person. Michael Moritz, the billionaire head of Sequoia Capital, which is the most successful eventual capital firm in history, says it's survival and paranoia behind his success. Compound interest only works if you can give an asset years and years and years to grow.

Getting rich and staying rich are two different skills. They are often conflicting skills, so many people focus on one or the other.

But you need both to do well over time.

This episode tells a 100-year-old story of two investors, neither of whom knew each other, but whose fates converged during the same week in the 1920s.

It shows why a barbell personality of optimistic on one hand, and paranoid on the other, is vital to success.