Ray Dalio faced severe financial distress after being fired early in his career, compelling him to borrow $4,000 from his father to cover family bills. This painful experience led to significant life lessons, emphasizing humility and the need to question one’s own certainty. After founding Bridgewater Associates, Dalio experienced a critical miscalculation regarding a predicted debt crisis, which further instilled the importance of diversification in his investment strategy. These events ultimately transformed Dalio’s approach to investing and life.
This was painful,” Dalio told a fellow billionaire, Carlyle Group co-founder David Rubenstein, in a conversation at New York's 92nd Street Y in July. "But it also had a deep impact, he continued. "That changed my approach to everything.”
Dalio's lessons of humility and the power of diversification became cornerstone principles for his investment strategy, evolving beyond mere tactics into a comprehensive life philosophy.
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