The School of Greatness 1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
67 snips
Dec 7, 2020 
Ray Dalio, a billionaire investor and founder of Bridgewater Associates, shares his insights on achieving financial success and meaningful living. He discusses the importance of embracing pain as a teacher and the value of mindset in overcoming challenges. Dalio emphasizes the necessity of healthy disagreements for growth and the role of empathy in addressing societal wealth disparities. He also highlights the significance of personal purpose in financial decisions and offers guidance on emotional resilience and philanthropy for enhancing community well-being.
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Painful Lesson, Valuable Outcome
- In 1982, Ray Dalio's prediction about a depression was wrong, causing him to lose money and clients.
- This painful experience taught him about diversification and stress-testing, leading to his success.
Importance of Painful Experiences
- Ray Dalio believes he'd have an ordinary life without the painful experience of financial loss. It taught him how to achieve great success by navigating risk.
- This realization prompted him to build a strong, diverse team for support.
Three Phases of Life
- Life unfolds in three phases: dependence, independence with others depending on you, and passing along what you've learned.
- Knowing your position in this arc helps you identify what truly matters at each stage.
