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Learnings from Ray Dalio

nfwyt, quest-for-wealth1 min read

Ray Dalio

  • Concept of just one of those

    • Everything in the world has already happened before. So just pause and see what script is going to run, when you take that decision. Like when a snake comes at you, you know that its a snake, you can think of ways to deal with snakes and how does reality work. Think of who has already worked on those and who can help me navigate it.
  • Whenever you are about to make an important decision. Write.

    • What type of decision was it ?
    • Why did I make that decision that way ?

Pain + reflection = Progress

  • My failure in 81&82 has taught me humility, fear of being wrong, let me stress test my thinking.

    • How do I know I am right.
    • Being successful has more to do with your not knowing than anything you know.
    • Stress test with you know who can disagree with you.
  • Calculate how much week, months and years you can live with your savings. This gives you security.

  • Residence is forced savings. It's your tax deductions.

  • Common mistake, thinking that the investment that did good is a good investment.

  • Diversification will reduce risk without reducing return.

  • Have great humility on what you don't know.

  • Pay attention from the feedback you get back from reality.

  • Principles are essentially recipes for dealing with situations that happen over and over again.

Ray Dalio - Principles

# References

  • Wealth Education