Ray Dalio, founder of Bridgewater Associates, discusses wealth inequality and opportunity gaps in the United States.
Insight
Dalio: Diversification provides far more benefit than picking winning assets
“And if you really look at that, the marginal benefit of diversification is much more powerful than the marginal benefit of goodness.”
Assertion Not checkable as stated
Dalio: Visionary leaders like Jobs and Musk prioritize mission over feelings
“The one that you're referring to is there's a test call in workplace inventory, which is called concern for others, and it doesn't really mean concern for others. What it means is that when faced with the choice of whether the mission is Or the individual's fe…”
Insight
Dalio: Overlaying historical data archetypes is key to investment rule-making
“So, in other words, Let's take all of those cases and put them together, and if they're, if they have data associated with them, let's say a bubble, then you just plot the data on top of each other so you could see each one unfold, and then you can then say, w…”
Insight
Dalio: 15 uncorrelated bets cut portfolio risk by 80 percent
“The key in embedding, I believe, is to find 15 good, they don't have to be great, Uncorrelated or low-correlated return streams, because if you have, let's say, a 60% correlation between those items that you're about, and you could have a thousand, and you're …”
Insight
Dalio: Adults can improve psychological weaknesses by at most one standard deviation
“I've examined that at length, both in terms of our populations, and then I've really enjoyed working with psychologists to try to figure out, they're the pros, and doing that, and generally speaking, with a lot of hard work, you can change by about one standar…”
Insight
Ray Dalio: Most people who think they are open-minded are prejudiced
“Most people who think that they're open-minded have formed an opinion. That prejudices them, and that they have to get knocked off on. They're not reaching out with the worry that they might be wrong.”