Death and Investing According to the Stoics

Investing like a stoic means being willing to take on necessary risks while preparing for the unexpected

Photo by Nick Kane on Unsplash

Phaedo, one of Plato’s best-known dialogues, recounts the death of Socrates. On his death bed, Socrates makes clear to his disciple Cebes the purpose of philosophy: “He who has the spirit of philosophy will be willing to die, but he will not take his own life.”

This idea that the value of philosophy is in reconciling ourselves to our own mortality became fundamental to later stoic thinkers. Seneca, probably the best known of the stoics today, wrote extensively about death and the need for us to practice the premeditation of our own demise.

That this seemingly morbid emphasis on death might lead us to be more optimistic in our lives is certainly counterintuitive. The stoic motto momento mori (literally, remember that you will die) is not something you expect to see posted by young influencers on social media trying to demonstrate a zest for life and abundant positive energy.

On the surface, stoicism seems-if anything-like an antidote to unbridled optimism. If we want to protect ourselves from perpetual disappointment bred of our own naivete, then surely what we need is a solid dose of stoic pessimism. We should teach…