WTF Is Wealth? Ray Dalio Breaks It Down w/ Nikhil Kamath | WTF is Finance Ep 2

[upbeat music] [laughing]

... Hello, everyone!

Hello. [laughing]

Amazing. I've created a leading indicators of what countries have their ingredients project the next ten years' growth rate. India is best. I think India, over the next ten years, has all the ingredients to really be the strongest growth rate and, and an improvement.

[upbeat music] A youngster in India who's twenty-five years old, how does he make money?

Uh, two things I'd suggest. First, play the game. Find a game that you love, and then be around people who are pros at playing the game so you can chat about it. That's a good path.

[upbeat music] How do you view crypto and the world of Bitcoin? Or even, like, stablecoin. Tell me this, if you were to back-

You've gotta give me one question at a time. [laughing]

[laughing] Okay, let's do Bitcoin, and then we'll do stablecoin. [upbeat music] Hi, Ray. Uh, thank you for doing this. As a trader myself, I've been trading now a long time, about twenty-one years. I think there will be a lot I can learn from you, and many others back home in India, like me, can also learn from you. If I can contextualize the audience we are talking to today, they are young Indian wannabe entrepreneurs, uh, investors, wannabe traders, people who want to make a living in the stock markets, I would say between the ages of eighteen and thirty.

Wonderful.

[chuckles]

That's, that's exactly, um, the group that I would like to speak to at this stage in my life, because I've learned a lot, and I w- just wanna pass what I've learned along to those people. So thank you for allowing me to do that.

No, thank you for doing this. Everybody knows you, but if we could go through, like, the big events of your life and, very briefly, just to set context again, could you tell us how you look at your life from the very beginning, from when you were younger up until today?

Okay. Um, my dad was a jazz musician. My mom, uh, was a sort of stay-at-home mom. Uh, I was raised, and, uh, I didn't have any brothers or sisters. Um, it was a loving family. Um, it was, um, not poor, not... It was lower middle class. Um, I did jobs when I was young. Uh, I- one of those jobs was caddying for at a, at a golf course, and because I caddied at a golf course at the time when there was a stock market boom, the people I caddied with, I would have conversations with. And I took the money I earned, six dollars a bag, I carried two bags, twelve dollars for a round. When I got fifty dollars, I would put it in the stock market. And so I started, um, playing around in the stock market, much like you're describing our audience does. And, um, the first stock I bought, I bought only because it was the only company I ever heard of that was selling for less than five dollars a share, and I thought, "Well, then I can buy more shares, so if it goes up, I'll make more money," which of course, made no sense. But it was a company that, uh, was about to go bankrupt, but another company acquired it, and it tripled in value, and I thought, "This is easy." It's not easy, but I got hooked on the markets at twelve.