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McNugget Launch
- Ray Dalio helped McDonald's launch the McNugget by helping them hedge against chicken price volatility.
- He used his commodity trading expertise to create a fixed-price chicken supply for McDonald's.
1982 Setback
- Ray Dalio's market prediction in 1982 was correct but poorly timed, leading to significant financial losses.
- This experience shifted his perspective from "I'm right" to "How do I know I'm right?
Meaningless "Hedge Fund"
- Ray Dalio believes "hedge fund" is a meaningless term, like "mutual fund."
- He argues that everyone does different things within that category, so the label is confusing.