The principles you live your life by will either reward you with a life you enjoy living or lead you to a life you want to escape. Whether you consciously choose your principles or operate subconsciously on your default network, principles specific to you are guiding you in the outcomes you achieve.
Ray Dalio is the founder of the world’s biggest hedge fund, Bridgewater Associates which manages over $100 billion. His mission has been to share the principles that have made him wildly successful. He wasn’t born into wealth, so when he shares these principles and lessons he’s found repeatedly successful, you may want to take notes.
This episode is stuffed with foundational ideas and mindset shifts to help you succeed and learn to start thinking from first principles. Understanding how to handle your opinions, how to struggle well, how to separate yourself from doing things that are better done by someone else is your first step to major success.
SHOW NOTES:
0:00 | Introduction to Ray Dalio 0:14 | Prepare for the Recession 33:32 | The Secret to Wealth & Success 52:55 | How to Survive & Thrive 1:20:50 | Adopt the Right Mindset
QUOTES:
“When you have a large wealth gap and you have an economic downturn people are more inclined to have conflict.” [10:57]
“People in the top 40% of income will spend about five times as much money on their children’s education than those in the bottom 60%, and that’s neither fair nor productive.” [26:18]
“There’s always a path out there, you just don’t happen to see the path now, so you have to find the path.” [32:44]
“Make your passion and your work the same thing.” [35:52]
“The truth is you can have a lot more life and you can have a lot more if you know how to get more out of a minute.” [37:10]
“Struggling well will get you what you want rather than avoiding struggle.” [39:41]
“If you worry, you don’t have to worry, and if you don’t worry, you have to worry.” [40:53]
“What you don’t know is greater than what you do know.” [1:08:14]
“If you have the equanimity, that calm centeredness, and you have your plan, and you triangulate well with others so that you can get all the best advice and don’t have to approach it in your own head, you're a long way there.” [1:20:31]
“If you can get past your ego barrier and you get past your blind spot barrier you can accomplish anything...” [1:21:45]
“For God’s sake don’t be overly opinionated! Just because you have that opinion doesn’t mean that it’s true.” [1:23:11]
“If you want your life to be successful you will not let yourself do certain things because you’re just no good at them.” [1:31:37]
