Judul : RAY DALIO: Pain plus reflection equals progress
link : RAY DALIO: Pain plus reflection equals progress
RAY DALIO: Pain plus reflection equals progress
Bridgewater’s Ray Dalio, founder of the world’s largest hedge fund, joins Henry Blodget, CEO and editor-in-chief of Business Insider, to discuss how he learns from his mistakes in the market and in life. Following is a transcript of the video.
HENRY BLODGET: Going back to your early years, did you learn from other investors? Lots of people say, “I’m inspired by Warren Buffett or Paul Tudor Jones, the great trader.” Did you study other investors? It sounds like you figured out a lot yourself.
RAY DALIO: My nature is to learn through experiences. The best teacher for me is experiences. I know those people. They’re my friends and so on and we talk about markets.
But for me, it was really like, “Go, learn.”
The successes were good but they weren’t my main learning experience. My main learning experience came from the mistakes and then pausing and reflecting.
I have a principle: pain plus reflection equals progress.
Pain, when we’re in the moment of pain, we tend not to reflect, but after that moment of pain, whenever anybody makes a mistake, about anything, it’s not just the market, it’s about life. There’s a message probably there.
And I believe, then if you reflect, in a quality way of what would you do differently in the future that would prevent that mistake, you’ll come out with a principle. Write down that principle and then operate that in the future.
If you can encode it like I’ve been able to encode it and so on, that helps. And that’s the way that I’ve learned for the most part.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
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