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#43 Ray Dalio: Principles: Life and Work
October 22nd, 2018 | E43

What I learned from reading Principles: Life and Work by Ray Dalio


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Whatever success I've had in life has had more to do with my knowing how to deal with my not knowing than anything I know [0:01]

Ray's first principle and why [5:35]

Ray's key to success [8:07]

The similarities between investors and entrepreneurs [9:27]

Shift your mindset from I know I am right to How do I know I am right? [13:05]

Systemize your decision making [14:09]

Ray on his life story [17:30]

the quality of your decisions determine the quality of your life [19:50]

Like a lot of Founders, Ray was bad at school [21:45]

More about his personality: stubborn and determined + his first jobs [22:45]

Hungry for knowledge he could actually use [24:28]

Terrible is better than mediocre [25:03]

What we think to be true that is not: The future is a slightly modified version of the present [25:30]

Steve Jobs [26:30]

A pivotal lesson for Ray: The same things happen over and over again [28:02]

the founding of Bridgewater [32:33]

the humble beginning of Bridgewater [35:15]

If you know your business A to Z there is no problem you can't solve – Sam Zemurray [36:06]

Watching the richest man in the world go broke [38:00]

Ray loses everything and has to start all over again [40:30]

Successful people change in ways that allow them to continue to take advantage of their strengths while compensating for their weaknesses and unsuccessful people don't [45:10]

The new Bridgewater: Systematizing his decision making process [47:35]

Developing more products and out teaching his competition [48:11]

The results of systematized thinking guided by principles that are written down and adhered to [53:30]

Counterintuitive thoughts on public success [55:19]

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