From the biggest frustration in Dalio's investment career, I learned to take my mind from "I'm Right." (I am right) to ask myself "How do I know I'm right?" (How do I know I am right?) The best answer is to always be humble and fully open, to find other independent thinkers with common goals, to provide different perspectives. Every successful person may experience setbacks and failures, but unlike other people, they learn from failure, rekindle, and pursue success more aggressively.
Some media have praised Dalio as Steve Jobs in the investment community, giving Dalio AiCIO the title. Dalio thinks that he does have many similarities with Jobs. For example, Jobs is starting a business in the garage, and he started his bridge company in his apartment. Of course, he called Jobs the greatest "Shaper" (manufacturer), and many other successful entrepreneurs, such as Tesla founder Elon Musk, Amazon's Jeff Bezos, Netflix's Reed Hastings, successful people such as the Dalai Lama, politics Former Singapore Prime Minister Lee Kuan Yew and others. The Shaper is characterized by its unique vision and insight, and the ability to translate imaginary into reality and thoroughly practice their beliefs. They have the ability to think independently, to integrate the general direction and focus on small details, solo, and continuous innovation to surpass themselves and achieve a better world.
After reading the second part of Life principles, with many stories in the first part, I have a deeper understanding of Dalio's attitude and personality traits. In the description of each principle, from High-level principles (chapter title) To the Mid-level principles, and then to the Sub-principles, layer by layer allows the reader to understand the "causal logic" of his ideas.
The book suggests that to pursue What we want., it can be achieved in five steps:
Have clear goals. Set clear goals.
Identify and don’t tolerate the problems that stand in the way of your achieving those goals. Find errors and face problems.
Accurately diagnose the problems to get at their root causes. Identify the root cause of the problem.
Design plans that will get you around them. Designing precedes doing!
Do what’s necessary to push these designs through to results.
Some people think that these five steps seem easy to understand, but in fact they may be full of obstacles. Because in this process, we have to go through many journeys:
Embrace reality and live with it.
Dreams + Reality + Determination = A successful Life
Recognize yourself and be completely open-minded.
Pain + Reflection = Progress
Discard self-awareness (ego) and identify blind spots.
Discover the strengths and strengths of others, combine and harness the power of the organization.
This is my understanding of the Life Principles proposed by Dalio. Many times we think that we are the people who know the most and can make correct judgments. Or our views on things are often not comprehensive enough. We should not keep the mentality of things "should", and miss the "real" look of learning things. Prejudice leads us to be influenced by emotions and cannot be objectively analyzed rationally.
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