| Here are timeless and universal truths. Knowing your principles gives you great power. What are your principles? #principles #raydalio #mentor #geopolitics |
Raymond Thomas Dalio is an American billionaire hedge fund manager and philanthropist who has served as co-chief investment officer of Bridgewater Associates since 1985. He founded Bridgewater in 1975 in New York. Within ten years, it was infused with a US$5 million investment from the World Bank's retirement fund.
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The Most Important Lesson: Humility
2025-12-01
In 1979, I was so broke that I had to borrow $4,000 from my Dad to help take care of my family.
I had calculated that American banks had lent much more money to foreign countries than they would be able to pay back, and anticipated an imminent debt crisis.
But I couldn’t have been more wrong. I didn’t fully understand the impacts of quantitative easing, and so I lost money for myself and I lost money for my clients.
Looking back, it was the most painful experience I could imagine — but it was also the best thing that ever happened to me, because it taught me humility.
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