5/25/2023 0 Comments Principles ray dalio bookWhile this makes for a good story, research says that these types of comebacks play a role in just a small percentage of success stories, and most entrepreneurs who fail once will most probably fail again. (Shortform note: Like Dalio, other successful people first experienced failure, which has led to the myth that successful people need to fail before finding success. He wrote Principles so that others could benefit from what he’s learned. This ultimately led him to develop a set of principles for living life and reaching goals, which he credits for his success. The experience taught him not to be overconfident, to gain a more complete view of economic history, and to find ways to balance low risk with high returns. He started Bridgewater out of his apartment in New York in 1975 and enjoyed some success before some erroneous market predictions caused him to lose everything in 1982. He grew up in a middle-class neighborhood in Long Island and began playing the stock market at age 12. Ray Dalio is the founder, co-chairman, and co-chief investment officer of Bridgewater Associates, the largest hedge fund in the world. 1-Page Summary 1-Page Book Summary of Principles: Life and Work
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