This page has been archived and commenting is disabled.
The World's Greatest Hedge Fund Manager Dalio's Principles
Principals so important, we decided to give them an exclusive article. Principles by the World’s Greatest Hedge Fund Manager, Dalio.
What follows are three distinct parts that can be read either independently or as a connected whole. Part 1 is about the purpose and importance of having principles in general, having nothing to do with mine. Part 2 explains my most fundamental life principles that apply to everything I do. Part 3, explains my management principles as they are being lived out at Bridgewater. Since my management principles are simply my most fundamental life principles applied to management, reading Part 2 will help you to better understand Part 3, but it’s not required—you can go directly to Part 3 to see what my management principles are and how Bridgewater has been run. One day I’d like to write a Part 4 on my investment principles. If you are in looking to get the most bang for your buck (i.e., understanding for the effort), I suggest that you read Parts 1 and 2, and the beginning of Part 3 (through the Summary and Table of Principles) which will give you nearly the whole picture. It’s only about 55 pages of a normal size book.
Above all else, I want you to think for yourself—to decide 1) what you want, 2) what is true and 3) what to do about it. I want you to do that in a clear-headed thoughtful way, so that you get what you want. I wrote this book to help you do that. I am going to ask only two things of you—1) that you be open-minded and 2) that you honestly answer some questions about what you want, what is true and what you want to do about it. If you do these things, I believe that you will get a lot out of this book. If you can’t do these things, you should reflect on why that is, because you probably have discovered one of your greatest impediments to getting what you want out of life.
Full document,
»
- advertisements -
9. Don't invest in airline stock unless it's puts.
7. Is good advise, Talisker...too Peaty for my palate..Cragganmore slips down nicely
1)Never bite off more than you can chew.
2)Don't watch CNBC.
3)Have a proven technique and stick with it. This can apply to at least two areas that I know of.
4)Don't drink cheap coffee or cheap booze.
5)Don't check ZH more than 10 times a day.
6)Always consider yourself a moron, you will be pleasantly surprised more often than not. I can think of two areas this applies to.
7)Celebrate your profitable trades with very good Scotch. I like Talisker.
8)On days that your trade has lost money, watch Kudlow (the only time allowable to watch CNBC) and yell at the TV.
Well that's it, the keys to my great fortune.
UPDATE: This article is a good read for the whole family.
Jiddu Krishnamurti said as much in fewer words. I expect my former neighbor at 160 Broadway, PTJ of EF WHO will agree:
I maintain that truth is a pathless land, and you cannot approach it by any path whatsoever, by any religion, by any sect. That is my point of view, and I adhere to that absolutely and unconditionally. Truth, being limitless, unconditioned, unapproachable by any path whatsoever, cannot be organized; nor should any organization be formed to lead or coerce people along a particular path. ... This is no magnificent deed, because I do not want followers, and I mean this. The moment you follow someone you cease to follow Truth. I am not concerned whether you pay attention to what I say or not. I want to do a certain thing in the world and I am going to do it with unwavering concentration. I am concerning myself with only one essential thing: to set man free. I desire to free him from all cages, from all fears, and not to found religions, new sects, nor to establish new theories and new philosophies.