Principles for Success (by Ray Dalio)

Ray Dalio is an American billionaire investor and hedge fund manager, who has served as co-chief investment officer of the world’s largest hedge fund, Bridgewater Associates.

When I stumbled upon this video, I was a little surprise that a person with such phenomenal financial success and achievement is creating such video series.

But, as mentioned in the video himself, it may come to a time that he wanted to share – in his own words : “.. pass along what I’ve learned about how to be successful then to seek more success for myself”.

The principles shared in this video will definitely help many who needed the “roadmaps” on how to also achieve great success in their business/life.

Let me attempt to summarise, or rather, extract the important quotes IMO from the 8 episodes :

Episode 1 : The Call To Adventure

  • You need to think for yourself about what is true; what you really want?!
  • It’s okay to make mistakes, but more importantly is to reflect on them
  • Truth is the essential foundation for producing good outcomes
  • (Big) Dreams + (Embracing) Reality + (Lots of) Determination = A successful life
  • I. Decide (for yourself) What To Do
  • II. Have the courage to do it!

Episode 2 : Embrace Reality and Deal With It

  • Without pursuing dreams, life is mundane.
  • To succeed, we must embrace all our realities (Mistakes, Problems & Weaknesses)
  • Pain + Reflection = Progress

Episode 3 : The Five-Step Process

  • Step 1 – Goals
  • Step 2 – Problems
  • Step 3 – Diagnosis
  • Step 4 – Design
  • Step 5 – Do it

Episode 4 : The Abyss

  • Learn from mistake and balance between risks and rewards
  • There is always a best path forward and you probably just don’t see it yet. You have to embrace your reality.

Episode 5 : Everything Is A Machine

  • Universalit
  • To get the most out of life, one has to take more risk, and that knowing how to appropriately balance risk and reward is essential to having the best life possible.

Episode 6 : Your Two Biggest Barriers

  • Our Ego and Blindspot barriers
  • Ego barrier – acknowledge your weaknesses objectively
  • Blindspot barrier – acknowledge that there are always blindspots we can’t see

Episode 7 : Be Radically Open-Minded

  • Seek out most thoughtful people who disagree with you and see things through their eyes (Thoughtful Disagreement)
  • The best way to go through the jungle of life is with insightful people who see things differently from us
  • Let go of the attachment to having the right answers all by yourself and use your fear of being wrong to become open-minded to other (people) views.

Episode 8 : Struggle Well

  • They all get around by working with people who see risks and opportunities that they would miss.
  • Stick with positive insightful people and enjoy the journey to success together!
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