TIP796: DIE WITH ZERO & LINDE STOCK ANALYSIS

W/ CLAY FINCK

TIP796: DIE WITH ZERO & LINDE STOCK ANALYSIS W/ CLAY FINCK

05 March 2026

In this episode, Clay explores Bill Perkins’ book Die with Zero, which challenges the traditional mindset of accumulating wealth at all costs and instead encourages readers to think more intentionally about how and when they spend their money. While many investors focus solely on maximizing their financial well-being, few stop to consider the limited role wealth accumulation plays in living a truly fulfilling life.

In the second segment, Clay shifts gears to analyze Linde PLC, the global industrial gas powerhouse. He explains why Linde may represent an attractive opportunity in today’s market, particularly as AI-driven disruption reshapes so many industries.

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IN THIS EPISODE, YOU’LL LEARN:

  • Why optimizing for life experiences may matter more than maximizing net worth
  • The concept of time-bucketing your life to maximize fulfillment
  • Why you should consider giving money to your kids earlier in life rather than later
  • The tradeoff between compounding money and compounding memories
  • An overview of Linde PLC’s business and its strong competitive position
  • Why Linde is an attractive opportunity to consider with AI disrupting so many different industries
  • And so much more!

Disclosure: This episode and the resources on this page are for informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. For full disclosures, see link.

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:00] Clay Finck: 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 in long-term wealth creation.

[00:00:21] Clay Finck: 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 and the reality that our ability to enjoy experiences declines as we age.

[00:00:50] Clay Finck: During the second segment, we’ll shift gears to talk about a boring but stable compounder in the stock market, Linde PLC. From 1993 to year end 2024, Linde’s stock has compounded at 12% per annum versus the S&P 500, returning 8% over that same time period. Linde 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.

[00:01:19] Clay Finck: We’ll explore its business model, competitive advantages, capital allocation, and what sort of returns shareholders can expect from here going forward. So with that, I hope you enjoy today’s episode.

[00:01:34] Intro: Since 2014 and through more than 190 million downloads, we break down the principles of value investing and sit down with some of the world’s best asset managers. We uncover potential opportunities in the market and explore the intersection between money, happiness, and the art of living a good life. This show is not investment advice. It’s intended for informational and entertainment purposes only. All opinions expressed by hosts and guests are solely their own, and they may have investments in the securities discussed. Now, for your host, Clay Finck.

[00:02:16] Clay Finck: Hey everybody. Welcome back to The Investor’s Podcast. I’m your host, Clay Finck, and during this first segment, I’ll be sharing what I learned from reading the book Die With Zero by Bill Perkins. I initially came across this book after my best friend told me that it was a must read. I thought this would be an interesting book to cover on the show because I found that many value investors think about more than just wealth accumulation.

[00:02:40] Clay Finck: Living a good life is also about how we choose to spend our time, who we choose to spend our time with, and how we spend our money. Many people who enjoy accumulating wealth use money as their scorecard for success, and the main takeaway that Perkins wanted readers to walk away with was to realize that money should be used as a tool for creating memorable experiences, not just a scorecard to maximize until death.

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