Ray Dalio

Well, that's. I said my my business is try to predict. But I'd say the first thing, whatever success I've had in life has more to been due to my knowing how to deal with what I don't know than anything I know. OK, so how you deal with what you don't know, I believe, OK, is so important. So, yes, my my business in a nutshell is I try to find a bunch of bets that I think are good bets.

Well, that's. I said my my business is try to predict. But I'd say the first thing, whatever success I've had in life has more to been due to my knowing how to deal with what I don't know than anything I know. OK, so how you deal with what you don't know, I believe, OK, is so important. So, yes, my my business in a nutshell is I try to find a bunch of bets that I think are good bets.

but to diversify well so that I have a bunch of diversified bets because I do not know. I mean, in terms of my actual track record, I've probably been right about 65% of the time, okay? And any one bad bet can kill you. So I've known how to deal with that. That's what I've learned, including how to deal with what I don't know.

but to diversify well so that I have a bunch of diversified bets because I do not know. I mean, in terms of my actual track record, I've probably been right about 65% of the time, okay? And any one bad bet can kill you. So I've known how to deal with that. That's what I've learned, including how to deal with what I don't know.

but to diversify well so that I have a bunch of diversified bets because I do not know. I mean, in terms of my actual track record, I've probably been right about 65% of the time, okay? And any one bad bet can kill you. So I've known how to deal with that. That's what I've learned, including how to deal with what I don't know.

Well, I can place good bets, okay? There are some things that are highly knowable, okay? Highly knowable, like they say, you know, death and taxes, okay? Demographics. Okay. So I can know or have a view, for example, that owning, I believe, owning dead assets is not going to be a good thing. So I could think about alternative storeholds of wealth. I can think about that.

Well, I can place good bets, okay? There are some things that are highly knowable, okay? Highly knowable, like they say, you know, death and taxes, okay? Demographics. Okay. So I can know or have a view, for example, that owning, I believe, owning dead assets is not going to be a good thing. So I could think about alternative storeholds of wealth. I can think about that.

Well, I can place good bets, okay? There are some things that are highly knowable, okay? Highly knowable, like they say, you know, death and taxes, okay? Demographics. Okay. So I can know or have a view, for example, that owning, I believe, owning dead assets is not going to be a good thing. So I could think about alternative storeholds of wealth. I can think about that.

I can place some bets that allow me, you know, they're not the certain bets, but I can place enough bets and have enough diversification that I can be relatively confident of some things, but never absolutely or totally confident. But I think when we're coming back anyway, that's the reality. I'm just describing our reality the best I can.

I can place some bets that allow me, you know, they're not the certain bets, but I can place enough bets and have enough diversification that I can be relatively confident of some things, but never absolutely or totally confident. But I think when we're coming back anyway, that's the reality. I'm just describing our reality the best I can.

I can place some bets that allow me, you know, they're not the certain bets, but I can place enough bets and have enough diversification that I can be relatively confident of some things, but never absolutely or totally confident. But I think when we're coming back anyway, that's the reality. I'm just describing our reality the best I can.

That's why people who are confident in the future and are just experiencing the present, you know, right now, people are describing, all of them are describing how things are. And almost everybody thinks the future is going to be a modified version of the present.

That's why people who are confident in the future and are just experiencing the present, you know, right now, people are describing, all of them are describing how things are. And almost everybody thinks the future is going to be a modified version of the present.

That's why people who are confident in the future and are just experiencing the present, you know, right now, people are describing, all of them are describing how things are. And almost everybody thinks the future is going to be a modified version of the present.

Okay. Things are good. All right. I get it. Okay. Well, I'll guarantee you there will be big changes.

Okay. Things are good. All right. I get it. Okay. Well, I'll guarantee you there will be big changes.

Okay. Things are good. All right. I get it. Okay. Well, I'll guarantee you there will be big changes.

I'm saying it's understandable, but when you study change and the nature of change, it's a, you know, the world changes in dramatic ways because of causes that we can look at and get a good understanding of. But we can't be sure about anything because of the nature.

I'm saying it's understandable, but when you study change and the nature of change, it's a, you know, the world changes in dramatic ways because of causes that we can look at and get a good understanding of. But we can't be sure about anything because of the nature.

I'm saying it's understandable, but when you study change and the nature of change, it's a, you know, the world changes in dramatic ways because of causes that we can look at and get a good understanding of. But we can't be sure about anything because of the nature.