William chats with Ray Dalio, one of the most successful investors of all time. Ray, whose net worth is estimated at $19.1 billion, founded the world’s largest hedge fund firm, Bridgewater Associates, which manages about $150 billion. He’s also the author of the #1 NYT bestseller “Principles: Life & Work,” which has sold over 4 million copies. Here, Ray shares invaluable lessons on how to develop your own principles for success, overcome your biggest obstacles, construct a resilient portfolio, invest wisely in China, think rationally about Bitcoin, & build a happy life that suits your personality. This is a true masterclass on investing & life.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro02:42 - How Ray Dalio’s habit of writing down his principles changed his life.08:40 - Why it’s critical to understand yourself & find paths that suit your nature.11:32 - What Ray discovered about his strengths, weaknesses, values, & motivations.12:25 - How he succeeds by collaborating with people who are strong where he’s weak.12:50 - What business leaders like Elon Musk, Bill Gates, & Reed Hastings have in common.16:08 - How to convert your experiences into principles that will guide your decisions.17:29 - What Ray learned about risk & survival after a disastrous investment mistake.21:44 - How he taught himself to embrace pain, harnessing it to become a better investor.26:59 - How meditation empowers him to make decisions in a calm & centered way.31:32 - How to apply his five-step process for getting what you want out of life.32:16 - How to improve your life by identifying the “one big thing” that stands in your way.45:08 - How to combat your ego & your blind-spots.47:23 - Why he’s comfortable investing billions in China, despite the uncertainties.45:31 - How he balances risk & reward by seeking to own 15 “good, uncorrelated bets.”52:00 - How regular investors can construct a well-diversified, resilient portfolio.57:16 - What we should learn from the bubble & bust of high-tech stocks & crypto.1:01:39 - Why he’s deeply skeptical about Bitcoin.1:05:43 - How economies are driven by credit cycles, & where the U.S. stands in this cycle.1:18:13 - How to prepare for the future by knowing where you are in the three phases of life.1:23:57 - Why Ray is becoming more spiritual in the third & final phase of his life.1:33:18 - Why he’s happy to cede control of his investment firm to a new generation of leaders.1:38:10 - Why Ray sees ocean exploration, not space exploration, as the greatest adventure of all. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Listen to William Green's 2022 interview with Ray Dalio, The Changing World Order - TIP410, or watch the video. Principles: Your Guided Journal by Ray Dalio. Principles: Life and Work by Ray Dalio. Ray Dalio’s animated video on How the Economic Machine Works. Ray Dalio’s animated video on Principles for Success. Ray Dalio’s animated video on Principles for Dealing with the Changing World Order. Follow Ray Dalio on LinkedIn. Take the free PrinciplesYou personality assessment test. William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book. Follow William Green on Twitter. SPONSORSSupport our free podcast by supporting our sponsors: River Toyota TurboTax Fidelity Monarch Money Meyka Simon & Schuster CI Financial Vacasa Long Angle Fundrise iFlex Stretch Studios American Express Shopify Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Ray Dalio is an investor, author, and founder of Bridgewater Associates. Please support this podcast by checking out our sponsors: – Athletic Greens: https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil – GiveWell: https://www.givewell.org/ and use code LEX to get donation matched up to $1k – Magic Spoon: https://magicspoon.com/lex and use code LEX to get $5 off – Blinkist: https://blinkist.com/lex and use code LEX to get 25% off premium – MasterClass: https://masterclass.com/lex to get 15% off EPISODE LINKS: Ray’s Twitter: https://twitter.com/RayDalio Ray’s Instagram: https://www.instagram.com/raydalio Books & resources mentioned: Ray’s books: https://amzn.to/3swN5uw Ray’s free personality test: https://principlesyou.com/ PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: – Check out the sponsors above, it’s the best way to support this podcast – Support on Patreon: https://www.patreon.com/lexfridman – Twitter: https://twitter.com/lexfridman – Instagram: https://www.instagram.com/lexfridman – LinkedIn: https://www.linkedin.com/in/lexfridman – Facebook: https://www.facebook.com/lexfridman – Medium: https://medium.com/@lexfridman OUTLINE: Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) – Introduction (08:14) – Money or power (11:50) – Big Cycle (31:43) – Collapse of the American Empire (40:10) – War (43:18) – Xi Jinping (49:21) – Importance of freedoms (55:24) – Democracy’s vulnerability (58:49) – Communism’s vulnerability (1:05:50) – Vladimir Putin (1:09:55) – Understanding China (1:17:23) – Henry Kissinger (1:27:44) – Elon Musk and Dogecoin (1:29:41) – How to take notes (1:33:24) – Advice for young people (1:37:30) – Hope for humanity

Ray Dalio is the founder, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates, one of the world’s largest and most successful investment firms that is famous for the principles of radical truth and transparency that underlie its culture. Ray is one of the wealthiest people in the world, with ideas that extend far beyond the specifics of how he made that wealth. His ideas, applicable to everyone, are brilliantly summarized in his book Principles. This conversation is part of the Artificial Intelligence podcast. If you would like to get more information about this podcast go to https://lexfridman.com/ai or connect with @lexfridman on Twitter, LinkedIn, Facebook, Medium, or YouTube where you can watch the video versions of these conversations. If you enjoy the podcast, please rate it 5 stars on Apple Podcasts or support it on Patreon. This episode is presented by Cash App. Download it (App Store, Google Play), use code “LexPodcast”.  Here’s the outline of the episode. On some podcast players you should be able to click the timestamp to jump to that time. 00:00 – Introduction 02:56 – Doing something that’s never been done before 08:39 – Shapers 13:28 – A Players 15:09 – Confidence and disagreement 17:10 – Don’t confuse dilusion with not knowing 24:38 – Idea meritocracy 27:39 – Is credit good for society? 32:59 – What is money? 37:13 – Bitcoin and digital currency 41:01 – The economic machine is amazing 46:24 – Principle for using AI 58:55 – Human irrationality 1:01:31 – Call for adventure at the edge of principles 1:03:26 – The line between madness and genius 1:04:30 – Automation 1:07:28 – American dream 1:14:02 – Can money buy happiness? 1:19:48 – Work-life balance and the arc of life 1:28:01 – Meaning of life

Ray Dalio is the founder of Bridgewater Associates, a billionaire investor, philanthropist and an author.The New World Order is mystical term. Is it a shadowy cabal of evil hooded figures? Or is it a cycle that our world's economy regularly runs on. Ray is here to explain the consequences of shifting global power dynamics, and what that means for the future of America and the rest of the world.Expect to learn why global events aren't getting more chaotic, they're unfolding right on schedule, why there is a regular cycle of empires falling and new ones emerging, how the global economic machine really works, what the next few years of America will look like, what you can do to secure your finances in a turbulent market, Ray's opinion on the role that Bitcoin and cryptocurrencies will serve in a post-dollar economy, the best financial advice for young people and much more...Extra Stuff:Buy Changing World Order - https://amzn.to/41qm1vABuy Principles: Your Guided Journal - https://amzn.to/41YS719 Follow Ray on Twitter - https://twitter.com/RayDalio Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/To support me on Patreon (thank you): https://www.patreon.com/modernwisdom-Get in touch.Instagram: https://www.instagram.com/chriswillxTwitter: https://www.twitter.com/chriswillxYouTube: https://www.youtube.com/modernwisdompodcastEmail: https://chriswillx.com/contact/  Learn more about your ad choices. Visit megaphone.fm/adchoices

Ray Dalio, founder and co-chairman of Bridgewater Associates, discusses passing on principles, the value of journaling, better relationships through thoughtful disagreements, lessons from history, and the three main influences on society.

In this engaging discussion, industry titans Ray Dalio, founder of Bridgewater Associates, and investing legend Bill Miller join Chris Davis, a Berkshire Hathaway board member, alongside scholar Michael Berg. Dalio emphasizes the power of self-awareness in navigating personal weaknesses, while Miller shares his big Bitcoin insights. Davis reflects on timeless wisdom from Warren Buffett and Charlie Munger. Berg sheds light on fostering a richer relationship with money, encouraging listeners to appreciate their financial journey and embrace personal growth.

If you’re one that avoids economic news, politics, and global matters you may want to pause and lean into this conversation as an objective view of reality with historical context.These are scary uncertain times we’re living through with an entire banking system failing, politics with one agenda to divide the country, and the battle for global power.With the economic crisis unfolding before us, you have a decision to make on how you respond in this moment. No one can tell you what is best for you, but as Ray Dalio puts it, he wants you to at least understand the mechanics of what is happening so you can do your own analysis of what’s best for you.Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater, a billionaire investor, and bestselling author, joins Tom for a sobering conversation about the obvious problems with banking causing its collapse and the moment in time we’re facing with global conflicts on the rise.The emphasis is on understanding the mechanics and knowing what to look for and how you’ll respond. Ray shares valuable insights on the way banking works, why the collapse of SVB was obvious, the 6 cycle trend that sees the rise and fall of empires, and 3 tiers of security you can put in place for yourself.Check out Ray’s video mentioned in this episode, Principles for Dealing with the Changing World Order: https://youtu.be/xguam0TKMw8Follow Ray Dalio:Website: https://www.principles.com/Twitter: https://twitter.com/RayDalioInstagram: https://www.instagram.com/raydalio/YouTube: https://www.youtube.com/channel/UCqvaXJ1K3HheTPNjH-KpwXQSPONSORS:Get 5 free AG1 Travel Packs and a FREE 1 year supply of Vitamin D with your first purchase at https://bit.ly/AG1Impact.Go to https://bit.ly/MarekHealthImpact and use code IMPACTTHEORY for 10% off your first lab order.No interest, no payments - take advantage of this special financing offer at https://bit.ly/NetsuiteImpact to get the visibility and control you need to weather any storm.This episode is sponsored by BetterHelp. Give online therapy a try at https://bit.ly/BetterhelpImpact and get on your way to being your best self.Are You Ready for EXTRA Impact?If you’re ready to find true fulfillment, strengthen your focus, and ignite your true potential, the Impact Theory subscription was created just for you.This is not for the faint of heart. This is for those who dare to learn obsessively, every day, day after day.Subscription Benefits: Unlock the gates to a treasure trove of wisdom from inspiring guests like Andrew Huberman, Mel Robbins, Hal Elrod, Matthew McConaughey, and many, many, more New episodes delivered ad-free Exclusive access to Tom’s AMAs, keynote speeches, and suggestions from his personal reading list You’ll also get access to an 5 additional podcasts with hundreds of archived Impact Theory episodes, meticulously curated into themed playlists covering health, mindset, business, relationships, and more: Legendary Mindset: Mindset & Self-Improvement Money Mindset: Business & Finance Relationship Theory: Relationships Health Theory: Mental & Physical Health Power Ups: Weekly Doses of Short Motivational Quotes  Subscribe on Apple Podcasts: https://apple.co/3PCvJazSubscribe on all other platforms (Google Podcasts, Spotify, Castro, Downcast, Overcast, Pocket Casts, Podcast Addict, Podcast Republic, Podkicker, and more) : https://impacttheorynetwork.supercast.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

What I learned from reading Principles: Life and Work by Ray Dalio---Subscribe to listen to Founders Premium — Subscribers can listen to Ask Me Anything (AMA) episodes and every bonus episode. ---Whatever success I've had in life has had more to do with my knowing how to deal with my not knowing than anything I know [0:01]Ray's first principle and why [5:35]Ray's key to success [8:07]The similarities between investors and entrepreneurs [9:27]Shift your mindset from I know I am right to How do I know I am right? [13:05]Systemize your decision making [14:09]Ray on his life story [17:30]the quality of your decisions determine the quality of your life [19:50]Like a lot of Founders, Ray was bad at school [21:45]More about his personality: stubborn and determined + his first jobs [22:45]Hungry for knowledge he could actually use [24:28]Terrible is better than mediocre [25:03]What we think to be true that is not: The future is a slightly modified version of the present [25:30]Steve Jobs [26:30]A pivotal lesson for Ray: The same things happen over and over again [28:02]the founding of Bridgewater [32:33]the humble beginning of Bridgewater [35:15]If you know your business A to Z there is no problem you can't solve – Sam Zemurray [36:06]Watching the richest man in the world go broke [38:00]Ray loses everything and has to start all over again [40:30]Successful people change in ways that allow them to continue to take advantage of their strengths while compensating for their weaknesses and unsuccessful people don't [45:10]The new Bridgewater: Systematizing his decision making process [47:35]Developing more products and out teaching his competition [48:11]The results of systematized thinking guided by principles that are written down and adhered to [53:30]Counterintuitive thoughts on public success [55:19]“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Are you in love with your own ideas regardless of how good they are Would you like to make better decisions and fewer mistakes? Would you like to improve the most important relationships in your life? These are just some of the topics I discuss with my guest, Ray Dalio. Ray Dalio is the founder of the world’s largest hedge fund, Bridgewater Associates, and is the author of the new book Principles: Life and Work. He is also a leading figure in the world of philanthropy, is an avid supporter of transcendental meditation, and has appeared on Time magazine’s list of the 100 most influential people in the world. Ray gave me over an hour and a half of his time, and I didn’t waste a minute of it.    Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, searchable transcripts, member-only episodes, and more. Sign up at: https://fs.blog/membership/   Every Sunday our newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/   Follow Shane on Twitter at: https://twitter.com/ShaneAParrish

Billionaire investor Ray Dalio discusses the mechanics of the failing banking system, strategies for financial safety and diversification, the importance of how people treat each other and society, the significance of education and infrastructure, and the evolving American dream. He also explores the historical background of Taiwan, the role of wars in shaping the global system, the current state of the economic cycle and geopolitical dynamics, and the value of understanding, worrying, and taking action.