Ray Dalio is CEO of Bridgewater Associates, one of the rockstars of the hedge fund world. I saw a link to the animation below in a tweet from Bill Gross. This animation describes how the economy works in the eyes of Ray Dalio, and its very understandable, especially for the lay person.
As an added bonus, here is a link to something Ray Dalio wrote on his principles–principles of life and management. He wrote this in 2011, and while Ray and I operate from two different worldviews, I think you can take a bite and spit out the bones. A couple of excerpts:
What is written here is just my understanding of what it takes: my most fundamental life principles, my approach to getting what I want, and my ‘management principles,’ which are based on those foundation. Taken together, these principles are meant to paint a picture of a process for the systematic pursuit of truth and excellence and for the rewards that accompany this pursuit. I put them in writing for people to consider in order to help Bridgewater and the people I care most about.
#8 Create a culture in which its OK to make mistakes but unacceptable not to identify, analyze, and learn from them.
#34 Make sure people don’t confuse their right to complain, give advice, and debate with the right to make decisions.
Lots of good stuff.
Graig P. Stettner, CFA, CMT
Chief Investment Officer
Tower Private Advisors