Self Made Billionaire Hedge Fund Boss Ray Dalio: Independent Thinking is Crucial for Success in Financial Markets.
Largest hedge fund Bridgewater Associates is known for its unique and brutally transparent work culture.
Ray Dalio says while at other firms people are asked to keep their thoughts to themselves, at Bridgewater they “have a right and an obligation to say I think this is terrible and explore whether or not that’s true.”
Dalio says Bridgewater is a “bit like entering the Navy SEALs, …There’s a period – about 18 months-of sort of adaptation to this. And some make it and some don’t make it. And so we call it ‘getting to the other side.'”
“We describe it as: there’s the upper-level you and the lower-level you. The human brain is part thoughtful man …and part animal. And you have to drag yourself. And we see the struggle as between the upper-level them and the lower-level them,” he says referring to the difference between what they brain wants and what a person’s emotions struggle with.
In the end though he believes this transparency is crucial to the “independent thinking” you need in financial markets so you can know quickly identify your weaknesses and address them.
Billionaire Hedge Fund Boss Ray Dalio: Indipendent Thinking is Crucial for Success in Financial Markets