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#43 Ray Dalio: Principles: Life and Work
Founders
How to Reduce Risk Without Reducing Returns
All great founders and investment approaches have bad patches. Wise people stick with sound fundamentals through the ups and downs while flighty people react emotionally to how things feel. With 15 to 20 good uncorrelated return streams, I could dramatically reduce my risk without reducing my expected returns. This is where he discovers his chart.
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