Ray Dalio

Ray Dalio

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Ray Dalio is the world’s billionaire investor, founder of Bridgewater Associates (one of the world’s largest hedge funds managing something like $160 billion… cool cool cool….), author of Principles of Life and Work (a.k.a the book on everybody’s favourites list), and Bloomberg said that he’s one of the world’s 100 wealthiest people in January 2018.

He is known for his controversial practices in running Bridgewater Associates like full transparency at all times, videotaping meetings, etc. and those are some of the features that made his company so successful. In fact, people are now buying shares of the hedge fund itself because it’s just that good.

Ray Dalio’s Early Life

So the boy was born in New York and his family, by no means, had a banking background. His mother was a housewife and his father was a jazz musician who played in Manhattan clubs.

His interest in the financial world began at 12-ish when he was working on a golf course; he heard a lot of these Wall Street guys talking about the markets, the ups, and downs, the tips and tricks. With the money that he earned from his job, he bought Northeast Airlines at $5 a share partially because this was one of the few companies with a stock that he could afford. It also happened to go through a merger deal, and little-boy Dalio tripled his money. He was hooked.

By the time that he had graduated high school and was enroute to university, he already had a portfolio of several thousand dollars. He was enrolled at Long Island University where he completed a bachelor’s degree specializing in finance because the man was gifted.

A Brief Finance Precursor to a Lifetime of More Finance

After his undergrad, he took several finance jobs doing things that we do not understand like trading commodity futures on the floor of the New York Stock Exchange, working as the Director of Commodities at Dominick & Dominick LLC, trading futures and brokering things (is that how you say it?) at Shearson Hayden Stone.

The rest as you say, is history.

Forbes says he has a net-worth of about $17.4 billion - half of which is going to be donated to charitable causes as part of Warren Buffett’s Giving Pledge (the pledge for wealthy people to give up >=50% of their wealth to philanthropy).

Biography sources https://en.wikipedia.org/wiki/Ray_Dalio, https://www.valuewalk.com/ray-dalio-bridgewater/, https://www.newyorker.com/magazine/2011/07/25/mastering-the-machine

Ray Dalio's Favourite Books

Sources Tribe of Mentors by Tim Ferriss

Since its release in 1949, The Hero with a Thousand Faces has influenced millions of readers by combining the insights of modern psychology with Joseph Campbell’s revolutionary understanding of comparative mythology. In these pages, Campbell outlines the Hero’s Journey, a universal motif of adventure and transformation that runs through virtually all of the world’s mythic traditions. He also explores the Cosmogonic Cycle, the mythic pattern of world creation and destruction.

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As part of the Joseph Campbell Foundation’s Collected Works of Joseph Campbell, this third edition features expanded illustrations, a comprehensive bibliography, and more accessible sidebars. As relevant today as when it was first published, The Hero with a Thousand Faces continues to find new audiences in fields ranging from religion and anthropology to literature and film studies. The book has also profoundly influenced creative artists—including authors, songwriters, game designers, and filmmakers—and continues to inspire all those interested in the inherent human need to tell stories.

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A concise survey of the culture and civilization of mankind, The Lessons of History is the result of a lifetime of research from Pulitzer Prize–winning historians Will and Ariel Durant.

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With their accessible compendium of philosophy and social progress, the Durants take us on a journey through history, exploring the possibilities and limitations of humanity over time. Juxtaposing the great lives, ideas, and accomplishments with cycles of war and conquest, the Durants reveal the towering themes of history and give meaning to our own.

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How did the replication bomb we call ”life” begin and where in the world, or rather, in the universe, is it heading?

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Writing with characteristic wit and an ability to clarify complex phenomena (the New York Times described his style as ”the sort of science writing that makes the reader feel like a genius”), Richard Dawkins confronts this ancient mystery.

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