RWH022: Multi-billionaire Masterclass w/ Ray Dalio

<p>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 &amp; 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, &amp; build a happy life that suits your personality. This is a true masterclass on investing &amp; life.</p><p><br></p><p><strong>IN THIS EPISODE YOU’LL LEARN:</strong></p><p>00:00 - Intro</p><p>02:42 - How Ray Dalio’s habit of writing down his principles changed his life.</p><p>08:40 - Why it’s critical to understand yourself &amp; find paths that suit your nature.</p><p>11:32 - What Ray discovered about his strengths, weaknesses, values, &amp; motivations.</p><p>12:25 - How he succeeds by collaborating with people who are strong where he’s weak.</p><p>12:50 - What business leaders like Elon Musk, Bill Gates, &amp; Reed Hastings have in common.</p><p>16:08 - How to convert your experiences into principles that will guide your decisions.</p><p>17:29 - What Ray learned about risk &amp; survival after a disastrous investment mistake.</p><p>21:44 - How he taught himself to embrace pain, harnessing it to become a better investor.</p><p>26:59 - How meditation empowers him to make decisions in a calm &amp; centered way.</p><p>31:32 - How to apply his five-step process for getting what you want out of life.</p><p>32:16 - How to improve your life by identifying the “one big thing” that stands in your way.</p><p>45:08 - How to combat your ego &amp; your blind-spots.</p><p>47:23 - Why he’s comfortable investing billions in China, despite the uncertainties.</p><p>45:31 - How he balances risk &amp; reward by seeking to own 15 “good, uncorrelated bets.”</p><p>52:00