Ray Dalio: “Know What You Don’t Know”
Posted by Larry Doyle on October 25, 2011 9:24 AM |
Ray Dalio occupies a very special place in the Sense on Cents Hall of Fame.
Dalio is widely regarded as running the most successful money management operation in the world today, that being Bridgewater Associates.
While I certainly admire Dalio’s financial acumen, I most appreciate Dalio’s philosophical approach to the markets and the world as a whole. Our country would be in a far better position if we were able to get the political crowds in Washington and our state capitols to listen to and embrace Dalio’s approach and his perpetual pursuit of the truth.
Dalio was recently interviewed by Charlie Rose. While the interview runs for 37 minutes, the wisdom Dalio shares lasts a lot longer than that. What does Dalio highlight?
In terms of monetary and fiscal programs and policies, he believes, “we’re out of ammunition.”
In terms of what is the only thing he needs to give his children, Dalio maintains they “need to be able to be self-sufficient.”
In terms of understanding markets and the world at large, Dalio continually emphasizes, “what is true” and “finding the truth”.
In terms of managing risk, Dalio stresses it is far more important to “know what you don’t know.”
If I were to choose one video which embodies and espouses the core principles of Sense on Cents, I would select this video. I hope everybody reading this will set aside the time to view it. I especially encourage those in school and preparing to go into the working world in the near future. Dalio delivers a wealth of knowledge and wisdom which will help you navigate accordingly but also lays a foundation for a way of life.
Watch, listen, and learn from this master.
I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.