The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 10 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
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.”
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…”
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 …”
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…”
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.”
Dalio: People are routinely surprised by events outside their lifetime
“One of the things that I've observed over and over again is that everybody gets surprised about the thing that hasn't happened before their lifetime.”
Dalio: Evaluate employees on decision process rather than outcome
“If you're looking at a baseball player or a golfer, and you see how their swing is, you should be able to say that's a good swing. So if you just look at the shot, that's a different thing. So you have to know how to look at the swing rather than the shot, rig…”
Dalio: Collective decision-making outperforms individual choices when ego barriers are removed
“And if you can get that radical open-mindedness collective decision making is so much better than individual decision making, but you've got to get over those two barriers.”