Ray Dalio

So everybody's confused because nobody knows what each other's really thinking. And then also like, you know, you won't get to the right answer. And I mean, that just is too stupid a path for me, for me to do it. It's too risky a pass. And it's so much rewarding, so much more rewarding to do the other. Right. Have you always been like that or was it until you went?

I think what helped me get that way was the markets. Okay. Because, again, what happens is, you know, there's just being right or wrong. There's just a winning or a losing. Okay. So just imagine, you know, it's like being a trained monkey. You know, like what works, okay, should we push a button? Should we push a button? Okay. Okay. Yes. Okay. It makes sense. Okay.

I think what helped me get that way was the markets. Okay. Because, again, what happens is, you know, there's just being right or wrong. There's just a winning or a losing. Okay. So just imagine, you know, it's like being a trained monkey. You know, like what works, okay, should we push a button? Should we push a button? Okay. Okay. Yes. Okay. It makes sense. Okay.

Is better than I'm going to push the button, push the button, whatever it is. Okay. No, I don't see it that way. Okay. Let's figure it out. and so on. And then the scorecard, I think probably had the benefit of that kind of notion. I got a scorecard. Okay, I don't know, like I'm not sure. Okay, bring it on. Please stress test me. Oh, that's great. We're good partners.

Is better than I'm going to push the button, push the button, whatever it is. Okay. No, I don't see it that way. Okay. Let's figure it out. and so on. And then the scorecard, I think probably had the benefit of that kind of notion. I got a scorecard. Okay, I don't know, like I'm not sure. Okay, bring it on. Please stress test me. Oh, that's great. We're good partners.

So that to some extent, I think played a role in my types of experiences. Maybe if everybody had a scorecard on all their decisions, and then was being able to experience, essentially, you try it one way, you try it the other way, and you start to see what's better, and you get punished one way, you get rewarded the other way. Naturally, you wanna go in the direction you get rewarded.

So that to some extent, I think played a role in my types of experiences. Maybe if everybody had a scorecard on all their decisions, and then was being able to experience, essentially, you try it one way, you try it the other way, and you start to see what's better, and you get punished one way, you get rewarded the other way. Naturally, you wanna go in the direction you get rewarded.

That's so stupid. My way is the way I just want to make the right, the best decision possible. I don't care where it comes from.

That's so stupid. My way is the way I just want to make the right, the best decision possible. I don't care where it comes from.

Well, like I say, I think before that 1982-ish incident, I probably was a lot more, okay, yeah, okay, you know, I think it's right and what I think is right and I'm a smart guy and so on. So I was like, you know, life is a good teacher. Just a good, you know, like two by four in the head, you know, and you got a couple of those and... You know, pain plus reflection equals progress.

Well, like I say, I think before that 1982-ish incident, I probably was a lot more, okay, yeah, okay, you know, I think it's right and what I think is right and I'm a smart guy and so on. So I was like, you know, life is a good teacher. Just a good, you know, like two by four in the head, you know, and you got a couple of those and... You know, pain plus reflection equals progress.

Well, first of all, they, you know, they got to want it, but let's assume they want it. You know, then there are three things you have to do basically. First, you have to put your honest thoughts on the table and have the other person put their honest thoughts on the table. Okay, so now you know what you honestly think, both sides, that's great. Then there are protocols for disagreeing well.

Well, first of all, they, you know, they got to want it, but let's assume they want it. You know, then there are three things you have to do basically. First, you have to put your honest thoughts on the table and have the other person put their honest thoughts on the table. Okay, so now you know what you honestly think, both sides, that's great. Then there are protocols for disagreeing well.

I wrote a bunch in the book. Yeah. Um, yeah. And, um, like I could go through some of those types of things. There are certain exercises that you could do. You know, there's a, I have a two minute rule. Do you speak with two minutes without the other? You start to think, are you blocking?

I wrote a bunch in the book. Yeah. Um, yeah. And, um, like I could go through some of those types of things. There are certain exercises that you could do. You know, there's a, I have a two minute rule. Do you speak with two minutes without the other? You start to think, are you blocking?

Um, you have a mediator, maybe in other words, somebody, when you're disagreeing, if you can't disagree, say mutually agree. that this person will be our mediator. Or maybe to the judge, they'll decide. Maybe it's a group that decides. In other words, you have a protocol for disagreeing and then deciding.

Um, you have a mediator, maybe in other words, somebody, when you're disagreeing, if you can't disagree, say mutually agree. that this person will be our mediator. Or maybe to the judge, they'll decide. Maybe it's a group that decides. In other words, you have a protocol for disagreeing and then deciding.

Sometimes in that disagreement, hopefully you both learn a lot and you may reach an agreement, but you still may not have an agreement. But then you try to say, what's the best protocol for moving past that disagreement?

Sometimes in that disagreement, hopefully you both learn a lot and you may reach an agreement, but you still may not have an agreement. But then you try to say, what's the best protocol for moving past that disagreement?

know like a you have a judge and a jury and you know they have a case and anyway what do you have good protocols so so you have to have three things you have to put your uh honest thoughts on the table um you have to go through processes that helps uh to reach the right answer depending on how serious the question is right if it's