In this first installment of our three-part series on What I Learned About Investing From Darwin, we explore one of the most original and thought-provoking contributions to the world of fundamental investing in recent years. Written by Pulak Prasad—an investor with an exceptional long-term track record—this work blends evolutionary biology with practical investment wisdom in a way few others have attempted. In Part 1, we focus on Prasad’s central principle: avoiding big risks. While most investors are drawn to potential upside, Prasad emphasizes the importance of minimizing the chance of permanent capital loss—a mindset that aligns with his genuine "forever" holding period. Drawing on lessons from Darwin and the natural world, he highlights how survival—both in nature and in investing—is often about what you don’t do. Tune in to discover why the skill of not losing may be the most underrated edge in investing, and how evolutionary thinking can sharpen your decision-making in the market.