Ray Dalio (@raydalio) grew up a middle-class kid from Long Island. He started his investment company Bridgewater Associates out of a two-bedroom apartment at age 26, and it now has roughly $160 billion in assets under management. Over 42 years, he has built Bridgewater into what Fortune considers the fifth most important private company in the U.S.

Along the way, Dalio became one the 100 most influential people in the world (according to Time) and one of the 100 wealthiest people in the world (according to Forbes). Because of his unique investment principles that have changed industries, CIO Magazine dubbed him “the Steve Jobs of investing.”

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Ray Dalio, The Steve Jobs of Investing
Show Notes: https://tim.blog/2017/09/13/ray-dalio/

00:00 Start
06:33 Middle class childhood
08:29 Professional mistake-maker
12:01 “Pain plus reflection equals progress.”
16:42 On recognizing patterns
20:07 A meritocracy at Bridgewater
23:21 Bridgewater’s “pain button” app
25:59 Transcendental Meditation
36:33 An “idea meritocracy” comprises three things
40:35 The “Two-Minute Rule”
43:14 Early failures over successes
46:59 Why Bridgewater wins
47:12 Three ingredients for a successful life
48:22 Intelligence and happiness
49:41 Clinical depression and bipolar disorder
56:03 Observing a consistent, earlier bedtime
56:57 Removing the stigma of mental illness
01:00:24 Role models
01:02:18 Books and reading
01:11:50 A fascination with evolution
01:16:32 “Don’t pick your battles; fight them all.”
01:22:54 Risk
01:38:38 How to assess a new opportunity
01:48:00 Diversification
01:48:47] Advice about concentrated portfolios
01:51:38 Ray’s self-talk
01:53:17 Has Ray ever started over?
01:54:46 Technology removes a lot of Ray’s stress
01:57:40 Making transitions, sharing principles

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About Tim Ferriss:
Tim Ferriss is one of Fast Company’s “Most Innovative Business People” and an early-stage tech investor/advisor in Uber, Facebook, Twitter, Shopify, Duolingo, Alibaba, and 50+ other companies. He is also the author of five #1 New York Times and Wall Street Journal bestsellers: The 4-Hour Workweek, The 4-Hour Body, The 4-Hour Chef, Tools of Titans and Tribe of Mentors. The Observer and other media have named him “the Oprah of audio” due to the influence of his podcast, The Tim Ferriss Show, which has exceeded 200 million downloads and been selected for “Best of iTunes” three years running.

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