Maybe wisdom comes with age, I just find Ray Dalio so humble, polite, nice tempered, patient, intelligent and wise. He is even teaching everyone about economics and etc via RU-vid videos. For someone who is so rich, it is amazing to see he care so much about other people. We need more people like him in the world.
one of the few man who is able to address 1) ego barriers 2) Blind spot problems. How to know what you do not know? ray dalio idea meritocracy is one of the solutions. love his books n articles. i have seen too many in the financial industry talking gibberish and voodoo , Ray is a beacon of light. Thank you for your ideas and books
Ray Dalio is not only an icon for our generation to learn to understand the economy, but he’s also so humble that it’s easy to miss just how significant his observations are
In 21 lessons for the 21st century by Harari, he talks about how humans think in stories rather than facts and logic. He says that humans usually use their intellect to reinforce the stories they believe rather than seeing if their beliefs/stories are actually true. I think Ray's experience with the markets(or anyone) lead to thinking logically because believing false things in the markets leads to pain. I also think politicians are very big on stories compared to facts :/
The booklist from the second question (32:55): The Lessons of History by Will and Ariel Durant The Hero With a Thousand Faces by Joseph Campbell The Rise and Fall of the Great Powers by Paul Kennedy (particularly this one)
Anyone who had "fell hard" financially would surely concur with much of Ray's beliefs and principles. Yes, the most important take away is his humility about him predicting wrongly about the market in 1982. One cannot be too certain. I like to quote this from Howard Marks' story of the one horse race. Even if one is so certain about an outcome, something else can happen instead. Appreciate Ray Dalio for his generosity in sharing his lessons and experience.
His style of conversation is so natural and forthcoming that it strikes a chord every now and then and allows one to reflect inwards and outwards in a more practical and doable way. Amazing.
The China debt Q&A at the end was the best. You can desagree with Ray all you want about China, but you have to respect that he's only following his process and that's what we all should be doing.
When it comes to macro economists, or finance guys, or any other spectators and analysts of the economy, there's no one who I trust more than Ray Dalio.
I find him so much more insightful than other “elites”. He’s willing to acknowledge problems like inequality and political fragmentation that others won’t confront. Wish we had leaders who could understand this. Buffet doesn’t seem to grasp the “paradigm” we are going into.
@@pixelmasque I know right, I have been investing in china as I have low confidence in US stocks considering their current valuations while many chinese stocks just went through a bear market. And it surely is reassuring to know that El Maestro is investing there as well and feel confident about the country's future.
Ray will MAGA, wich is not a good idea, just stick with dumpo. Dumpo as POTUS is more entertainment, the world is now laughing at the US which will not happen without dumpo.
Ray Dalio low key, just described a metacognitive process. By inverting the process of how to make a judgement made to how to conceptualize a problem, he inverted the typical equation of judgment then problem, by choosing to reconceptualize the world, (hence the problem.) So rather than writing a plan of action he chose to meta his own thinking. So instead of writing a strategy he wrote a ‘What do I think?’ first and then a ‘What do I think about what I think and what can I make of this?’ Scrutinizing his understanding on paper to allow and better scrutinize his own judgment (written) in order to arrive at a more accurate depiction of reality (the world.) (hence other, opposing minds come in handy as antagonistic and scrutinized for his version of the world.) Here it is better to conceptualize/envision the understanding; really the problem and then the judgment as to how to act. This is required, for better action. This is most incredible because he accurately describes the process, he’s describing meta-cognitive thought and is a great communicator. The guy basically is not talking about the economy, he’s a low key great communicator. He’s visualizing a problem before attacking it. People don’t do this even if they think they do, it’s not the judgement made first, it’s writing the conditions of action. Or more specifically the question or what causes/provokes the necessitates action. This allows him to play to a more parallel world. He’s therefore much more congruent with reality. He’s a straight forward thinker. I think his thinking is as much a result of his scrupulousness as it is his way to meta his own judgement. He delineates the conditions for action in the world before how he’s going to act in it. There concisely, fucking finally. Thanks.
Hey guys, thanks for the honest questions. I don’t understand why ‘I’m high’ when writing but this stuff is hard to describe. I always think paradoxically it’s easy to define stuff and harder to describe it. Anyways, I’m practicing writing, so I’ll happily take the compliments and run with them.
@@Nukacola633 Academia-level of writing, tons of "big words" but adequately explains Dalio's and your points. Keep it up bro, but try to keep it simpler. RU-vid people isn't exactly inclined to improving their intellect.
we love space x we traveled to Boca Chica to see the starship get built. & we got the S dual motor fsd last Christmas 🎄 😎 still have the cybertruck tri motor or 4 motor fsd on order, i got lots of solar & backup battery system to charge them both. i have tsla too. i just got tired of paying $5 for a gallon of gasoline
I'm so happy because l just received my payment successfully from. Mr.Charles thanks for keeping to your words I now believe you are legit at @Charles_forex09 at IG .
The real question is this. If we could replay the history to 1937, what should US have done differently? The answer should be very useful for dealing with today's issues.
If the world keeps buying they they will keep printing. Problem arrives when they slow it down on the buy side but the printing side doesn’t. And we already see it, they are buying hard asset in real estate and factories.
They are not really printing. The FED is buying back treasuries from commercial banks in exchange for money. This is also known as Reverse Repo or Debt Monetization. Conversely to common understanding- reverse repos take liquidity out of the market and therefore create a deflationary economic crisis e.g. it will be harder to get access to credit, followed by a housing bubble burst ten times worse than 2008. Look at China and the Evergrande situation now. The crisis will hit us by December.
And read: Generations or The fourth Turning by Neil Howe and William Strauss!! You could literally know what will happen until 2069 reading these books that will make you understand attitude and reactions in people or generations. A MUST!!
Ray Dalio has a computer program at work that evaluates and weights every member's opinions including his own. Instead of adopting his own, he follows what the program shows........
You don't have price discovery but his argument is that the societal costs of banks going broke, causing other businesses to go broke, and rippling throughout the economy are worse. I was ardently opposed to QE but you can't argue it didn't work. I was wrong about that.
He gave us a hint 4 years ago and its happening. Dedollarization has begun, countries are trying to become more independent and since China, India, Africa and other developing nation have the potential for growth, we maybe witnessing a shift happen.
3 book recommendations by Ray Dalio at around 33:00 - The Lessons From History, Will Durant, Ariel Druant (amzn.to/2Buf4jC) - The Hero with a Thousand Faces, Joseph Campbell (amzn.to/2znmseO) - The Rise and Fall of the Great Powers, Paul Kennedy (amzn.to/2zp0rML)
Everyone loves Ray... and this guy literally ate your lunch on Wall St. "I love the way you took our pensions and I love the way you made my family homeless! OH THANk you Ray Dalio!"
A few weeks or months ago there was a shorter bloomberg clip with him talking briefly about shadow banking at one point. I wondered if he wasnt referring to crypto there.
It's like the 1930's except .....we now have online gaming - Future conflict will be fought P2P between corporations for "in-game assets and digital resources".
thank you sooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo much for sharing fucking love Dalio
Joseph Campbell's Power of Myth is far superior than Hero with 1000 Faces. 1000 is very good; Myth is legendary. Read both...you...the reader of this message...yes you...order it now!
34:24 Bravo. Successful capitalists like Ray Dalio are usually very generous and would gladly help the poor (like with microfinance) if the government didn't soak them for taxes. Cut the government (aka middleman) out of the equation, and you suddenly have a much more efficient (and voluntary) transfer of critical resources from the haves to the have nots.
@CollinMcDirt you may want to watch „holy grail of investing“ where he explains this concept (5min) ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Nu4lHaSh7D4.html in essence: diversification with uncorrelated assets... a nice place to start thinking about portfolio construction.
Don't be fooled. He is a more humble guy than before and he is making himself, his company and clients rich. However, he is part of a system that benefits his chosen career. This system is hurting millions of Americans. The quantitative easing is no more than PRINTING MORE and MORE MONEY so they can play their game. He is honest to say that there is a GAP between the money available and the ASSETS meaning the stocks that are now sky high that less people can trade. By printing more money, they can trade. What about the salaries of ordinary people? Do they have a category of printing money so that we can have higher salaries to afford the basic needs? We need some EASING, too! How? One way you can help the millions of ordinary Americans is to honestly tax the 1% the private, multinational, global corporations, and restrict companies to use borrowed money to buy back assets (artificially increase the price per stock). Instead, use the borrowed money it to expand business and increase employment. Instead of printing more money, they should allow stocks to honestly find their true worth, and not base the price on the companies and investors' extrapolation (greed).
