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The distribution of the market is fat-tailed relative to the normal distribution. . . For passive investors, none of this matters, beyond being aware that outlier returns are more common than would be expected if return distributions were normal.

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Marilynne Robinson

One of the things that is wonderful about hymns is that they are a sort of universally shared poetry, at least among certain populations. There isn't much of that anymore either. There are very few poems people can recite, but there are quite a few hymns that, if you hum a few bars, people can at least come up with two verses. Many of the older hymns are very beautiful.

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