RayDalioRayDalio

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Ray Dalio is the founder, co-Chief Investment Officer and co-Chairman of Bridgewater Associates, which is a global macro investment firm and is the world’s largest hedge fund. He's also the author of the #1 New York Times Bestseller Principles: Life and Work. He is known to have a very practical understanding of economics that is very different from conventional economic thinking that he spells out in his video series "How the Economic Machine Works". He started Bridgewater in 1975 out of a two bedroom apartment in New York City and has been a global macro investor for more than 45 years. While at Bridgewater his industry-changing approaches to investing -- which include the invention of risk parity, currency overlay, portable alpha and global inflation indexed bond management -- prompted Chief Investment Officer magazine to write an article entitled “Is Ray Dalio the Steve Jobs of Investing?,” which compared his industry-changing inventions to those of the Apple founder. According to an industry study, Bridgewater's hedge fund has made more money for its investors than any other hedge fund ever -- an estimated $49.7 billion. Bridgewater Associates has received numerous awards, including over twenty “Manager of the Year” awards from every major financial publication, and Ray has received three “Lifetime Achievement” awards. Additionally, a long list of economic policymakers actively seek his advice, which prompted Time Magazine in 2012 to name him “One of the 100 Most Influential People in the World”. Ray is an active philanthropist with a particular interest in oceanographic research and conservation. He is a participant in The Giving Pledge, a commitment to give more than half of his wealth to charity. Ray believes that reality works like a machine and that principles for dealing with reality are required to be successful.

Principles: Life and Work

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According to Ray Dalio, to succeed in life and business, use and apply the power of principles—fundamental laws of life that do not change, and can be applied across various domains to achieve goals and objectives. In this discussion, we’re resharing some of Ray Dalio’s thoughts on this topic from his book Principles: Life and Work.
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RayDalio
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There is a 5-step process that everyone can follow to achieve what they want from life:’
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1 of 5. Set clear goals: It’s essential to have a clear focus on what you want to reach for so that you can identify when you are making progress.
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branden-hester
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If you are new to goal setting, you can make long or short term plans for one or all areas of your life. Goals should be written in the present tense, as though the year has passed and you already achieved them.
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To keep your goals fresh in your mind, review them daily. Keep it simple. Write down ten goals and when you review the list, note which one would have the most positive impact on your life. Once that is determined, make that goal your number one priority.
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Goal setting helps you identify your strengths and weaknesses, along with unfulfilled desires that have been languishing in your subconscious mind for years.
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2 of 5. Identify problems and don’t tolerate them: Take the time to call these problems out by name and work towards eradicating them, then, you will be in the upper tier of successful people.
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adam-zachertfaisal.rajaarun.prasad
adam-zachert, faisal.raja, arun.prasad and 7 other people started following this discussion
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It’s truly fascinating how successful people attack and see their problems. Where others see impenetrable barriers, they see challenges to embrace and obstacles to overcome.
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The way to start out in solving a problem is to entertain a solid belief that every problem has the seeds of its own solution. You can find the answer to your problem if you look deeply into the problem itself.
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Let the problem free-float in your mind. Refrain from pressure, tension, or even timing. Simply allow it to subsist in unhurried mental activity. Your mind will therefore produce the answer when needed.
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3 of 5. Diagnose your problems to find root causes: It’s important to identify the biggest problems first when reaching for goals. To make any progress on your issues, you need to hold yourself accountable to them. Think of every failure as a personal failure, and strive to be more creative, flexible, or whatever else it takes to improve.
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If everything came easy, you wouldn’t have the opportunity to learn new things. Each time you fail, you can learn something new. Whether you discover a new solution to an old problem or you gain more insight, failure can help you do better next time.
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Recalling times when you’ve rebounded in the past can help you feel equipped to deal with failure again. Draw upon the knowledge, tools, and talents you’ve used before and remind yourself that you have the capability to bounce back.
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Each time you bounce back from problems and rise above obstacles, you grow mentally stronger. Failure can show you that you’re tougher than you think and you can handle more than you imagine. Each time you fail, you build mental muscle.
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