Ray Dalio

But still the diversification is of very much importance because I think a lot of people make the mistake of thinking that because a technology is going to be a revolutionary technology throughout history,

So many new technologies have been revolutionary technologies, and it's certainly the case that that'll happen.

Such periods have also been periods of bubbles that because people think, I want to bet on that technology, so they buy stocks of that sort without looking really at the price.

So to create a well-balanced portfolio,

what I call an all-weather portfolio, I think is the most important thing that people can do.

Ed, it's my pleasure.

I think it starts with worry.

I have a principle.

If you worry, you don't have to worry.

And if you don't worry, you need to worry.

Because if you worry, you'll take care of the things that you're worrying about to the best possible way.

If you don't worry and you just go headlong into these things, you're going to have a real problem.

So I think that you have to have people first realize what does that picture look like if we don't do these things, if we don't have bipartisan, if we don't solve these problems together, if we fight.

You have to see the clarity of those two paths and have people choose

The good path, you know, okay, we will figure this out intelligently to make the best possible thing to intelligently and together.

Okay.

It starts there.

It's not a structure.

Where does the structure come from?

It comes from people.