Achievement orientation is important, but people who obsess over a $1,200 pair of shoes or a fancy car are very rarely happy because they don’t know what it is that they really want and hence what will satisfy them.
LIFE PRINCIPLE: Do not mistake the trappings of success for success itself.
In this short video Ray Dalio explains what he believes its his Holy Grail in trading.
While Indiana Jones might have found it safely tucked away in the Temple of the Sun, to legendary investor Ray Dalio, the "Holy Grail" is a sweet spot between diversification and correlation.
Sean Combs, also known as Diddy, asked me to mentor him to help him take his great success to another level. In this video you will see a recent mentor session of ours, and you will see a Diddy that you probably haven’t seen before. We explore the role of radical open mindedness, building an effective team, and the importance of using the 5-step process for success that I've outlined in my books, Principles: Life & Work and Principles for Success. You will also see why I want to help him and why I believe our relationship exemplifies how people with different backgrounds and different perspectives can work together harmoniously for the greater good. The greatest joy I’m having now is helping other people to be successful, particularly helping people who can help a lot of people.
Long before I reached success as the founder of Bridgewater Associates, the world’s largest hedge fund today, I faced several failures. But through my struggles, I was able to accumulate hundreds of principles.
Ray Dalio was recently on CNBC where he alerted retail investors to not make the mistake of thinking that markets that went up recently are better bargains rather than expensive bargains.
“Don’t make the mistake of buying those things that have gone up thinking they’re better rather than more expensive,” Dalio recently told CNBC’s Leslie Picker at the Greenwich Economic Forum in Connecticut.
In my opinion, Indian’s Prime Minister Modi is one of the best, if not the best, leaders in the world. I had an opportunity to explore with him how he thinks as well as what he thinks. If you’re interested in listening to it, here it is.
“I think these are unlikely to be good real returning investments and that those that will most likely do best will be those that do well when the value of money is being depreciated and domestic and international conflicts are significant, such as gold.
Additionally, for reasons I will explain in the near future, most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio. I will soon send out an explanation of why I believe that gold is an effective portfolio diversifier.”
Every day you are faced with an infinite number of things that come at you. To be effective, you need to be able to tell which dots are important and which dots are not.
Being a global macro investor for all these years has required me to gain a practical understanding how economies and markets work. If you’re interested in some of my economic principles, I recommend watching this 30 minute video.
Economics 101 -- "How the Economic Machine Works."
Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, "How does the economy really work?" Based on Dalio's practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.
While there is nobody in the world who will share your point of view on everything, there are people who will share your most important values and the ways in which you choose to live them out. Make sure you end up with those people.
3 To 5 Is More Than 20
Three to five smart, conceptual people seeking the right answers In an open-minded way will generally lead to the best answers. It may be tempting to convene a larger group, but having too many people collaborate is counterproductive even if the members of the larger group are smart and talented.
If you do just about anything frequently enough over time, you will form a habit that will control you. Good habits are those that get you to do what your “upper-level you” wants, and bad habits are those that are controlled by your “lower-level you.”
What it's like to work at the most successful hedge fund in the world, where 30 percent of new employees don't make it and those who do are considered 'intellectual Navy SEALs': read the complete articleHERE.
“Today, the top one-tenth of 1 percent of the population’s net worth is equal to the bottom 90 percent combined. In other words, a big giant wealth gap. That was the same — last time that happened was the late ’30s.”
Learning is the product of a continuous real-time feedback loop in which we make decisions, see their outcomes, and improve our understanding of reality as a result. Being radically open-minded enhances the efficiency of those feedback loops, because it makes what you are doing, and why, so clear to yourself and others that there can’t be any misunderstandings. The more open-minded you are, the less likely you are to deceive your-self—and the more likely it is that others will give you honest feedback. If they are “believable” people (and it’s very important to know who is “believable”), you will learn a lot from them. Being radically transparent and radically open-minded accelerates this learning process. It can also be difficult because being radically transparent rather than more guarded exposes one to criticism. It’s natural to fear that. Yet if you don’t put yourself out there with your radical transparency, you won’t learn.
