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#43 Ray Dalio: Principles: Life and Work
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Diversification is the Key to Unlocking Consistent Returns
Success lies in recognizing and utilizing uncorrelated return streams to reduce risk while maintaining expected returns. Historical analysis combined with advanced technology empowers systematic decision-making and portfolio construction. Diversification is essential; having multiple independent revenue sources outperforms reliance on a single stream. Documenting investment principles and outcomes creates a robust framework for strategy and enhances the ability to adapt. This approach has proven effective over decades, leading to consistent profits and minimizing losses, establishing a foundational strategy for wealth generation across various business models.
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