How Economies And Markets Work

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.

Principle Of The Day: The Right People In The Right Roles

Whether it’s in your private life or your work life, it is best for you to work with others in such a way that each person is matched up with other complementary people to create the best mix of attributes for their tasks.

Principles Of The Day: Alignment & Small Groups

When You Have Alignment, Cherish It

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.

Principle Of The Day: Be An Imperfectionist

Perfectionists spend too much time on little differences at the margins at the expense of the important things.

Principle Of The Day: Don't Mistake Possibilities For Probabilities

Anything is possible. It’s the probabilities that matter. Everything must be weighed in terms of its likelihood and prioritized.

Principle Of The Day: Choose Your Habits Well

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.”

Principle Of The Day: Meditate

I practice Transcendental Meditation and believe that it has enhanced my open-mindedness, higher-level perspective, equanimity, and creativity. It helps slow things down so that I can act calmly even in the face of chaos, just like a ninja in a street fight.

What It's Like To Work At The Most Successful Hedge Fund In The World

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 article HERE.

Capitalism Is Not Working For The Majority Of People

Ray Dalio speaks about wealth inequality and why capitalism is not working for all Americans: ‘Capitalism basically is not working for the majority of people’ 

“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.”

Principle Of The Day: Radical Open-Mindedness

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.