Ray Dalio

And what are my principles for dealing with that decision? If I could do anything is to teach the man how to fish, help to pass along principles Principles are guiding. You have to know what are you doing? What are you going after? What will make a successful life for you? What are the most important investment principles? What are the most important principles to deal with?

And how does reality work? That's really what I'm here to pass along, I hope.

And how does reality work? That's really what I'm here to pass along, I hope.

And how does reality work? That's really what I'm here to pass along, I hope.

As the saying goes, history rhymes. The same things happen over and over again because there are fundamental cause-effect relationships. Like, if you borrow, you'll have to pay back. Or if a government borrows, it'll have to pay back, but it has a printing press. Okay, that's mechanics. Okay. So, for the individual. What are you going after?

As the saying goes, history rhymes. The same things happen over and over again because there are fundamental cause-effect relationships. Like, if you borrow, you'll have to pay back. Or if a government borrows, it'll have to pay back, but it has a printing press. Okay, that's mechanics. Okay. So, for the individual. What are you going after?

As the saying goes, history rhymes. The same things happen over and over again because there are fundamental cause-effect relationships. Like, if you borrow, you'll have to pay back. Or if a government borrows, it'll have to pay back, but it has a printing press. Okay, that's mechanics. Okay. So, for the individual. What are you going after?

There was a time when I was starting out where I would think, how many weeks can I live if no money comes in? How many weeks, months, and years? So I went through the calculations. How much money do I have and what am I not spending? So I think when we start with money, the important thing is, okay, what's the money for? How much money do I need? What am I going after?

There was a time when I was starting out where I would think, how many weeks can I live if no money comes in? How many weeks, months, and years? So I went through the calculations. How much money do I have and what am I not spending? So I think when we start with money, the important thing is, okay, what's the money for? How much money do I need? What am I going after?

There was a time when I was starting out where I would think, how many weeks can I live if no money comes in? How many weeks, months, and years? So I went through the calculations. How much money do I have and what am I not spending? So I think when we start with money, the important thing is, okay, what's the money for? How much money do I need? What am I going after?

I think that success is not based on the amount of money that you have or the amount of status that you have. And so what are you going after? But then the key is to start off to know I have an amount of money that if it doesn't come in, my family and I are going to be okay. We're going to be good. Do you know what that amount is?

I think that success is not based on the amount of money that you have or the amount of status that you have. And so what are you going after? But then the key is to start off to know I have an amount of money that if it doesn't come in, my family and I are going to be okay. We're going to be good. Do you know what that amount is?

I think that success is not based on the amount of money that you have or the amount of status that you have. And so what are you going after? But then the key is to start off to know I have an amount of money that if it doesn't come in, my family and I are going to be okay. We're going to be good. Do you know what that amount is?

When looking at the amount of money that you have, you have to think of how much it returns after inflation because you're storing buying power. How much buying power do I have? So you must look at your returns after inflation. Inflation eating about 3% every year and it changes but let's you could play with that number of 3% and Then you imagine that portfolio.

When looking at the amount of money that you have, you have to think of how much it returns after inflation because you're storing buying power. How much buying power do I have? So you must look at your returns after inflation. Inflation eating about 3% every year and it changes but let's you could play with that number of 3% and Then you imagine that portfolio.

When looking at the amount of money that you have, you have to think of how much it returns after inflation because you're storing buying power. How much buying power do I have? So you must look at your returns after inflation. Inflation eating about 3% every year and it changes but let's you could play with that number of 3% and Then you imagine that portfolio.

It's X number of dollars today But those assets can go up or down so now the calculation you should say is and let's say in a worst case after inflation and Maybe in buying power that was to go down 50% So what I'm saying is Do you have, first and foremost, enough money that you're good, that you know you're good?

It's X number of dollars today But those assets can go up or down so now the calculation you should say is and let's say in a worst case after inflation and Maybe in buying power that was to go down 50% So what I'm saying is Do you have, first and foremost, enough money that you're good, that you know you're good?

It's X number of dollars today But those assets can go up or down so now the calculation you should say is and let's say in a worst case after inflation and Maybe in buying power that was to go down 50% So what I'm saying is Do you have, first and foremost, enough money that you're good, that you know you're good?

Once you have that, you can move on from that to do other things, to take more chances and so on to do that. You will have freedom and security. There is nothing more important than that. Because if you know what your worst case scenario is, and you know you're good, and you know your family's good, Then you have peace of mind and you have power. And then you can take risk.