Foreword -- Preface -- About the authors -- Acknowledgments -- Introduction: the puzzle of the missing billionaires -- Section I. Befuddled betting on a biased coin -- Size matters when it's for real -- A taste of the Merton share -- How much to invest in the stock market? -- The mechanics of choice -- Criticisms of expected utility decision-making -- Reminiscences of a hedge fund operator. Section II: lifetime spending and investing. Spending and investing in retirement -- Spending like you'll live forever -- Spending like you won't live forever. Section III: where the rubber meets the road. Measuring the fabric of Felicity -- Human capital -- Into the weeds: characteristics of major asset classes -- No place to hide: investing in a world with no safe asset -- What about options -- Tax matters -- Risk versus uncertainity. Section IV: puzzles. How can a great lottery be a bad bet? -- The equity risk premium puzzle -- Their perpetuity paradox and negative interest rates -- When less is more -- The costanza trade. Conclusion: U and your wealth -- Bonus chapter: liar's poker and learning to bet smart -- Cheat sheet -- A few rules of thumb -- Endnotes -- Suggested reading -- References -- Index.