The Steve Jobs of Investing — Ray Dalio

Ray Dalio (@raydalio) grew up a middle-class kid from Long Island. He started his investment company Bridgewater Associates out of a two-bedroom apartment at age 26, and it now has roughly $160 billion in assets under management. Over 42 years, he has built Bridgewater into what Fortune considers the fifth most important private company in the U.S. Along the way, Dalio became one the 100 most influential people in the world (according to Time) and one of the 100 wealthiest people in the world (according to Forbes). Because of his unique investment principles that have changed industries, CIO Magazine dubbed him “the Steve Jobs of investing.” Connect with Ray Dalio: Like Ray Dalio on Facebook: https://www.facebook.com/raydalio Follow Ray Dalio on Twitter: https://twitter.com/RayDalio Ray Dalio, The Steve Jobs of Investing Show Notes: https://tim.blog/2017/09/13/ray-dalio/ 00:00 Start 06:33 Middle class childhood 08:29 Professional mistake-maker 12:01 “Pain plus reflection equals progress.” 16:42 On recognizing patterns 20:07 A meritocracy at Bridgewater 23:21 Bridgewater’s “pain button” app 25:59 Transcendental Meditation 36:33 An “idea meritocracy” comprises three things 40:35 The “Two-Minute Rule” 43:14 Early failures over successes 46:59 Why Bridgewater wins 47:12 Three ingredients for a successful life 48:22 Intelligence and happiness 49:41 Clinical depression and bipolar disorder 56:03 Observing a consistent, earlier bedtime 56:57 Removing the stigma of mental illness 01:00:24 Role models 01:02:18 Books and reading 01:11:50 A fascination with evolution 01:16:32 “Don’t pick your battles; fight them all.” 01:22:54 Risk 01:38:38 How to assess a new opportunity 01:48:00 Diversification 01:48:47] Advice about concentrated portfolios 01:51:38 Ray’s self-talk 01:53:17 Has Ray ever started over? 01:54:46 Technology removes a lot of Ray’s stress 01:57:40 Making transitions, sharing principles SUBSCRIBE: http://bit.ly/1dSzTkW About Tim Ferriss: Tim Ferriss is one of Fast Company’s “Most Innovative Business People” and an early-stage tech investor/advisor in Uber, Facebook, Twitter, Shopify, Duolingo, Alibaba, and 50+ other companies. He is also the author of five #1 New York Times and Wall Street Journal bestsellers: The 4-Hour Workweek, The 4-Hour Body, The 4-Hour Chef, Tools of Titans and Tribe of Mentors. The Observer and other media have named him “the Oprah of audio” due to the influence of his podcast, The Tim Ferriss Show, which has exceeded 200 million downloads and been selected for “Best of iTunes” three years running. Connect with Tim Ferriss: Visit the Tim Ferriss PODCAST: https://bit.ly/2rYjUBr Visit the Tim Ferriss BLOG: http://bit.ly/17jDHw3 Like Tim Ferriss on FACEBOOK: http://on.fb.me/1avYUxq Follow Tim Ferriss on TWITTER: http://bit.ly/17d94TE Follow Tim Ferriss on INSTAGRAM: http://bit.ly/2IfH37J Follow Tim Ferriss on INSTAGRAM: http://bit.ly/2IfH37J

Tim FerrisshostRay Dalioguest

Oct 14, 20172h 6mWatch on YouTube ↗

EPISODE INFO

Released: October 14, 2017
Duration: 2h 6m
Channel: Tim Ferriss
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

Ray Dalio (@raydalio) grew up a middle-class kid from Long Island. He started his investment company Bridgewater Associates out of a two-bedroom apartment at age 26, and it now has roughly $160 billion in assets under management. Over 42 years, he has built Bridgewater into what Fortune considers the fifth most important private company in the U.S. Along the way, Dalio became one the 100 most influential people in the world (according to Time) and one of the 100 wealthiest people in the world (according to Forbes). Because of his unique investment principles that have changed industries, CIO Magazine dubbed him “the Steve Jobs of investing.” Connect with Ray Dalio: Like Ray Dalio on Facebook: https://www.facebook.com/raydalio Follow Ray Dalio on Twitter: https://twitter.com/RayDalio Ray Dalio, The Steve Jobs of Investing Show Notes: https://tim.blog/2017/09/13/ray-dalio/ 00:00 Start 06:33 Middle class childhood 08:29 Professional mistake-maker 12:01 “Pain plus reflection equals progress.” 16:42 On recognizing patterns 20:07 A meritocracy at Bridgewater 23:21 Bridgewater’s “pain button” app 25:59 Transcendental Meditation 36:33 An “idea meritocracy” comprises three things 40:35 The “Two-Minute Rule” 43:14 Early failures over successes 46:59 Why Bridgewater wins 47:12 Three ingredients for a successful life 48:22 Intelligence and happiness 49:41 Clinical depression and bipolar disorder 56:03 Observing a consistent, earlier bedtime 56:57 Removing the stigma of mental illness 01:00:24 Role models 01:02:18 Books and reading 01:11:50 A fascination with evolution 01:16:32 “Don’t pick your battles; fight them all.” 01:22:54 Risk 01:38:38 How to assess a new opportunity 01:48:00 Diversification 01:48:47] Advice about concentrated portfolios 01:51:38 Ray’s self-talk 01:53:17 Has Ray ever started over? 01:54:46 Technology removes a lot of Ray’s stress 01:57:40 Making transitions, sharing principles SUBSCRIBE: http://bit.ly/1dSzTkW About Tim Ferriss: Tim Ferriss is one of Fast Company’s “Most Innovative Business People” and an early-stage tech investor/advisor in Uber, Facebook, Twitter, Shopify, Duolingo, Alibaba, and 50+ other companies. He is also the author of five #1 New York Times and Wall Street Journal bestsellers: The 4-Hour Workweek, The 4-Hour Body, The 4-Hour Chef, Tools of Titans and Tribe of Mentors. The Observer and other media have named him “the Oprah of audio” due to the influence of his podcast, The Tim Ferriss Show, which has exceeded 200 million downloads and been selected for “Best of iTunes” three years running. Connect with Tim Ferriss: Visit the Tim Ferriss PODCAST: https://bit.ly/2rYjUBr Visit the Tim Ferriss BLOG: http://bit.ly/17jDHw3 Like Tim Ferriss on FACEBOOK: http://on.fb.me/1avYUxq Follow Tim Ferriss on TWITTER: http://bit.ly/17d94TE Follow Tim Ferriss on INSTAGRAM: http://bit.ly/2IfH37J Follow Tim Ferriss on INSTAGRAM: http://bit.ly/2IfH37J

SPEAKERS

Tim Ferriss
host
Entrepreneur, author, and host of The Tim Ferriss Show.
Ray Dalio
guest
Founder of Bridgewater Associates and investor known for Principles and macroeconomic research.

EPISODE SUMMARY

In this episode of Tim Ferriss, featuring Tim Ferriss and Ray Dalio, The Steve Jobs of Investing — Ray Dalio explores ray Dalio on principles, radical transparency, meditation, and risk management Ray Dalio recounts how early luck in stock picking hooked him on markets, while a painful 1982 macro mistake became a turning point that reshaped his decision-making toward humility and evidence-based thinking.

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