The Jordan Harbinger Show 389: Ray Dalio | Principles of an Investing Pioneer Part One
Aug 11, 2020
Ray Dalio, founder of Bridgewater Associates and author of "Principles," dives into the cyclical nature of history and economic trends. He discusses the rise and fall of nations, the impact of the current pandemic, and how to bolster emotional resilience. Surprisingly, Dalio shares how his journey led to the creation of the Chicken McNugget, blending food innovation with economics. He also emphasizes the importance of self-awareness and meaningful work over mere financial success, encouraging a holistic approach to life and investing.
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Importance of Historical Cycles
- Ray Dalio learned that missing significant historical market moves led to his biggest career mistakes.
- He emphasizes studying past cycles to avoid surprises, as history often repeats itself.
Nixon's Gold Standard Break
- In 1971, Ray Dalio witnessed Nixon's decision to break the gold standard, mirroring Roosevelt's 1933 action.
- This experience taught him the importance of understanding historical context in financial markets.
Pandemic Denial
- Many people dismiss the pandemic's severity because it's outside their lived experience.
- This cognitive bias, similar to denial, stems from not having a personal blueprint for such events.
