Ray Dalio: Predicting Our Future Using Our Past

Podcast Notes Key Takeaways Everything that is happening has happened before, just in a slightly different flavor – “Nothing is new”It’s imperative to understand how reality works, but your knowledge is limitedThe answer? “Triangulate with other people to figure out how it works and to have good principles for dealing with it” — Ray DalioThe most important takeaway: “Pain + reflection = progress”“If we can pause, maybe not in the moment of pain, but right after that moment of pain, and think how should I handle that type of situation, and then write it down, that’s great progress” – Ray DalioRecognize that “What you don’t know is much greater than what you do know”Then ask yourself: “How do I diversify well and stay safe”Be prepared for the worst case scenario before throwing money at any situation“Your work and your passion should be the same thing, and it has got to pay enough” – Ray Dalio

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Ray Dalio, billionaire philanthropist and hedge fund demigod, thinks we can utilize historical precedent to insulate ourselves from the inevitable pain points life throws at us. Do you?

Part I of our two-part interview with Dalio will help you make a decision. 

In this episode of Business Casual, Ray makes a case for becoming a voracious student of history. And yes, Ray thinks we could have seen today’s global health and economic crisis coming—he even goes as far in the episode as to divulge what he would have done differently if he’d paid a little more attention to the history books. 

Because as far as he sees it, there is such a thing as a formula for success. He shared that formula, plus tips for…

Learning how to make decisions even when armed with imperfect information at bestPositioning yourself to take advantage of your weaknesses as much as you do your strengthsUnderstanding what the role of the billionaire class should be in times of global panic

Listen to the episode now. And make sure you’re subscribed so you don’t miss Part II of the interview, up next from Business Casual.