Billionaire investor shares the three things needed for a ‘successful life’
US: Ray Dalio warns of recession within next two years
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Ray Dalio has been tremendously successful in business and finance, amassing a multi-billion-pound fortune over his long career. He is also generous with his wisdom, regularly offering tips to young entrepreneurs via Twitter.
In his latest Twitter thread, Dalio outlined the values required to be a quiet but successful and impactful leader.
He laid out three principles that he says will help leaders to grow:
“Be extremely open.
“Share the things that are hardest to share.
“Be open-minded and assertive at the same time.”
In addition, Dalio provided five key principles to maximise one’s strengths:
“Dreams + reality + determination = a successful life.
“Sincerely believe that you might not know the best possible path and recognise that your ability to deal well with ‘not knowing’ is more important than whatever it is you do know.
“Be radically open-minded.
“Don’t feel bad about your mistakes or those of others. Love them!
“Don’t act before thinking. Take time to come up with a game plan.”
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Dalio went on to explain the characteristics of a quiet leader as well as the benefits that it can bring.
He wrote: “Quiet Leaders focus on leading themselves and others through their open-mindedness and their equanimity in facing challenges – often leading as much through ‘taking in’ as ‘putting out’.
“They tend to be more reserved, reflective, both determined and humble, composed under pressure while also being inspiring and demanding leaders.”
Dalio is best known as a hedge fund manager and investor, having founded Bridgewater Associates back in 1971, which was once ranked as the largest hedge fund in the world.
His net worth is estimated by Bloomberg to be £12.26billion, making Dalio the world’s 119th richest person.
Many widely used practices were first popularised by Dalio, leading him to be viewed as one of the finance realm’s greatest innovators.
In fact, he has even been called the ‘Steve Jobs of investing’ by some.
Dalio predicted the global financial crash which occurred in 2008, pointing out the possibility of such an event the year before.
He published his book in 2017, titled ‘Principles: Life & Work’, which made it on to The New York Times best seller list.
Dalio has been ranked as one of the most influential people in the world in multiple publications, making the Time 100 list in 2012 and the Bloomberg Markets list in 2011 and 2012.
He also joined the pledge which was made by Bill Gates and Warren Buffett in 2011, vowing to give away over half of his wealth to charity before the end of his life.
Dalio, 71, is originally from New York and studied at Harvard Business School.
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