Principles For Success In Investing & Life w/ Ray Dalio (RWH022)
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- Опубліковано 18 чер 2024
- William Green chats with Ray Dalio, one of the most successful investors of all time. 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:
00:00:00 - Intro
00:02:24 - How Ray Dalio’s habit of writing down his principles changed his life.
00:06:34 - Why it’s critical to understand yourself & find paths that suit your nature.
00:09:29 - What Ray discovered about his strengths, weaknesses, values, & motivations.
00:10:22 - How he succeeds by collaborating with people who are strong where he’s weak.
00:10:50 - What business leaders like Elon Musk, Bill Gates, & Reed Hastings have in common.
00:13:32 - How to convert your experiences into principles that will guide your decisions.
00:15:20 - What Ray learned about risk & survival after a disastrous investment mistake.
00:19:01 - How he taught himself to embrace pain, harnessing it to become a better investor.
00:24:16 - How meditation empowers him to make decisions in a calm & centered way.
00:29:28 - How to apply his five-step process for getting what you want out of life.
00:30:14 - How to improve your life by identifying the “one big thing” that stands in your way.
00:38:09 - How to combat your ego & your blind-spots.
00:41:29 - Why he’s comfortable investing billions in China, despite the uncertainties.
00:43:39 - How he balances risk & reward by seeking to own 15 “good, uncorrelated bets.”
00:46:12 - How regular investors can construct a well-diversified, resilient portfolio.
00:51:24 - What we should learn from the bubble & bust of high-tech stocks & crypto.
00:54:41 - Why he’s deeply skeptical about Bitcoin.
00:58:18 - How economies are driven by credit cycles, & where the U.S. stands in this cycle.
01:06:56 - How to prepare for the future by knowing where you are in the three phases of life.
01:14:33 - Why Ray is becoming more spiritual in the third & final phase of his life.
01:24:02 - Why he’s happy to cede control of his investment firm to a new generation of leaders.
01:26:30 - Why Ray sees ocean exploration, not space exploration, as the greatest adventure of all.
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📖 BOOKS MENTIONED:
- Principles: Your Guided Journal by Ray Dalio: amzn.to/3lowOGg
- Principles: Life and Work by Ray Dalio: amzn.to/3xl8DLC
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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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Thank you William. I got excited everytime I see you. Ray is one of my heros and it's awesome that you can bring him here.
Thanks so much, Ken. Hope you enjoy this conversation as much as I did. Warm wishes, William
Ray, almost lives his life like what the Bhagwad Geeta preaches - starts with identifying your nature , basis that identify a vocation that will suit your personality, and work selflessly for a larger cause ,when we do that ,you don't exhaust your energies in worrying, and channelise that in getting the process right, eventually results would follow and all along be the ' knower of the field ' and not get sucked by the field, play the game beautifully with something called ,' detached attachment '!
Beautiful insight, Aniyan. Thanks for watching!
Great books and an excellent interview.
Glad you liked the video, Roy!
This is a high quality interview of a high quality person. There are so many powerful lessons in here that bears multiple hearings.
Ray is a great guy
Thanks William and Ray.
Thanks so much for watching!
Thank you so much Ray and William. Excellent interview. So much wisdom in so short a video (my perception of it was short as the time passed so quickly!). Enjoyed every second of it. First I have heard of OceanX, so now have it bookmarked. It is great how one interview leads onto research of another subject. Looks very exciting!
Glad you enjoyed it, Ian!
was also curious about dalio's current broad opinion of crypto - appreciate the pushing for that content!
Thank you. Great video.
Glad you liked it!
Thank you so much Ray for spending your time and effort to help us learn and to be more successful in life. You truly are making the world a better place.
Glad you found the video valuable, Byron!
What a wonderful podcast! Thank you!
Glad you enjoyed it!
When someone says "you know" many times in talks and interview like this ..they SURELY have mach things to say and see world much differently than lot of people do
You should interview Bob Price.
Thank God Mr. Dalio wasn’t in the voyage of OceanGate Titan😮
Anyone watching this after the recent book came out? I find it harder to trust him now
I came out as Shaper too
Ray Dalio is my hero. What I am having trouble understand is where he stands on putting capital into real estate.
He never really seems to talk about it. It's mostly about the potential doom that's coming and investing in assets, which obviously include housing. My concern is real estate equity is very sensitive to interest rates... Especially in Toronto and Vancouver, two very hot markets that have seen 23% and 9% declines since their huge peaks in early 2022.
Do we have any recent Ray Dalio videos regarding taking on more debt to purchase real estate?
Myself and many others are at a cross roads: continue to leverage and purchase more properties or sell debt in the form of secured loans?
I guess what I'm asking is what is the smart money doing in this situation?
They're waiting for plebs like us to get wiped out so they can buy our assets in a fire sale
Hot
Didn't you post this podcast one year ago?
Hi, this is a new interview from Ray and William discussing his book, ‘Principles: Your Guided Journal’. Last year’s interview was centered around his book ‘Principles for Dealing with the Changing World Order’: ua-cam.com/video/JmNji5adQew/v-deo.html. Hope this helps!
@@WeStudyBillionaires I've figured. Why does everybody think it's an old interview? There are other people who's asked he exact same question. This is hilarious.
24:00 Tracendental Meditation is literally Vipasyana…that stems out from Hindu Yoga practice. But, conveniently ignored giving credit to Hinduism and moved to Ninja and Buddha. Why?
Much of Indian philosophy has been transmitted to the West, and to the East, via Buddhism.
Very old interview.
Hi Nicholas -- Not sure why you think it's old. The interview was published on February 18, 2023 and was a conducted a couple of weeks earlier. Of course, you may already know everything we discussed, in which case you're way ahead of me! In any case, I hope you find some of the ideas helpful. For me, one of the most important is simply the realization that I have to find better mechanisms to compensate for my weaknesses and blindspots, particularly by working with people who are stronger than I am in those areas. I think the practice of writing down our own principles is also immensely valuable -- something I want to explore much more seriously myself. Warm wishes, William
@@WilliamGreenRicherWiserHappieri guess I made a mistake. You started discussing principles so I assumed it was an old interview
This is probably the best Ray Dalio Interview I’ve ever listened to & I actively seek them out. I love that there were none of the softball questions that yeild the same repetitive answers from Dalio. Example: William paraphrases Dalios story about borrowing $4k from his dad in the 80’s saving the listener from hearing that story yet again. Thank you for the great questions to Ray.
@@nicholasstabile445 Many thanks! Warm wishes, William
@@nicholasstabile445 Listen to the one he did with Minouche Shafik.