Summary
Ray Dalio emphasizes the importance of maintaining a balanced investment strategy in the face of market volatility. He notes that corrections and crashes are a regular occurrence, advising investors to focus on achieving balance within their portfolios rather than attempting to time the market. Dalio explains that a balanced approach allows investors to buy low and sell high, as different asset classes will respond differently to market changes. He warns against the common tendency for investors to sell at lows and buy at highs due to emotional reactions.
The discussion also delves into the realm of digital currencies, with Dalio expressing skepticism about their current viability as effective mediums of exchange or stores of wealth. He acknowledges the potential of blockchain technology but cautions that many cryptocurrencies exhibit characteristics of a speculative bubble. Dalio encourages individuals to consider the underlying technology rather than solely focusing on specific digital assets.
In the latter part of the conversation, Dalio reflects on the traits shared by successful individuals, highlighting their ability to visualize a future and work toward closing the gap between their current state and their goals. He underscores the importance of humility, curiosity, and the capacity for thoughtful disagreement in fostering effective partnerships and decision-making. As he transitions into a new chapter of his life, Dalio expresses a desire to ensure that his legacy and principles are passed on, particularly through his upcoming book on investment principles.
Show Notes
Where is the economy is today – is it growing? Flat? Declining?Uploaded 15-10-19What about YOUR economy – your personal investments, your nest egg? How safe is it, and how likely it is to grow at the rate you want it to? When you think about your current investments, how do you feel? Secure, or are you half-panicked?For many, the recession of 2008 still lingers. Those who suffered are waiting, white-knuckled, holding on to their portfolios and still wondering what to do next. We have, after all, been in one of the longest bull markets in history and bull markets always come to an end at some point. So how do you protect yourself from the possibility of another 2008? And how can you start to take a more proactive, confident approach to your portfolio?When Tony wrote Money Master the Game, he had the unique privilege of sitting down with some of the most successful, masterful investors and financial gurus of all time – including the legendary Ray Dalio.Ray founded the investment management firm Bridgewater Associates in 1975 out of his two-bedroom New York City apartment. Four decades later, Bridgewater has grown to be the largest hedge fund in the world, managing over 160 billion dollars, and making more money for its investors than any other hedge fund in history. Dalio himself has appeared on the Time 100 list of the most influential people in the world, as well as the Bloomberg Markets list of the 50 most influential people. And in Money Master the Game, Ray explains his view on what it means to create a balanced portfolio. He even revealed the exact percentages of a simple portfolio that he believes will protect you from the dips and even the dives in the market.But now – as Ray nears retirement, he has made the decision to share even more of the systems and strategies that have brought him such massive success in his deeply personal book Principles: Life and Work.Tony recently sat down with Ray to discuss just why Ray felt so inclined to share his wisdom with the world and why Principles is an absolute must-read for everyone – whether you’re in the financial industry or not. And in this episode of the podcast, you will hear from Tony and Ray as they discuss the evolution of Ray’s career, the catastrophic mistakes he made that almost destroyed everything he built, and how the lowest points in his life taught him his biggest lessons. You’ll also hear Tony and Ray discuss their personal beliefs about creating a successful and productive workplace culture, and why everyone should strive to create a meritocracy and invoke “radical honesty” in their lives.Discover Date With Destiny – Tony Robbins’ most intimate event, where tens of thousands of people have committed to designing their most beautiful lives. Over six immersive days, you’ll explore the depths of what drives every behavior, thought, decision and emotion you experience – and you’ll learn how to take control of your life to feel more joy, freedom and love than ever before.Visit Tony Robbins' websites:https://www.tonyrobbins.com/http://www.unshakeable.com/Follow Tony Robbins @:Facebook: https://www.facebook.com/TonyRobbinsTwitter: https://twitter.com/tonyrobbinsLinkedIn: https://www.linkedin.com/in/ajrobbinsInstagram: https://instagram.com/tonyrobbins/Tony Robbins is a #1 New York Times best-selling author, entrepreneur, and philanthropist. For more than 37 years, millions of people have enjoyed the warmth, humor and dynamic presentation of Mr. Robbins' corporate and personal development events. As the nation's #1 life and business strategist, he¹s called upon to consult and coach some of the world¹s finest athletes, entertainers, Fortune 500 CEOs, and even presidents of nations. Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices
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