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I'm about to share with you Ray dalio's billionaire mentality and key principles that you can use to reach your goals in success Ray dalio is a highly successful businessman who built his company Bridgewater Associates into the largest head fund firm in the world dalio started investing when he was 12 years old and by 1975 he was ready to start his own business today Bridgewater Associates manages 160 billion dollars in Assets in dalio has a net worth of around 18.7 billion dollars in addition to his business success dalio is also active in philanthropy particularly in the areas of microfinance in inner city education through his foundation dalio philanthropies he works to help others pursue their own goals and achieve their own versions of the American dream something really important that dalio says which I completely agree with is that if you want your life to be success you'll not let yourself do certain things because you're just no good at them and once you understand that the paths that you need to take become much clearer before anything it's important that you become self-aware reflect on your strengths and weaknesses and move forward accordingly you might be wondering what this might mean in terms of setting out your dreams and goals dalio believes in having ambition of course but he also believes in being a hyper realist it's very important that you're rooted in reality when deciding which goals and Ambitions to pursue the more realistic that you are the greater your chance of success and a huge part of understanding your reality is being self-aware dalio loves meditation for this and says that meditation is the biggest gift that he can give anyone when you really look into the psychology of how your brain works there are different parts of your brain that want different things there's the logical part of your brain called the conscience which makes the rational decisions and then there's the subliminal part of the brain which is more emotion driven although it's not as rational it can have a massive influence on you and your actions the conscience in the subliminal parts of your brain are not aligned and the barriers between the two are the ego and blind spot barriers if you can get past these barriers you can accomplish anything and everything because you'll understand that you don't have to do everything and be incredible at everything you'll be more open to learning from others and recognize what your strengths and weaknesses are by overcoming these two barriers and aligning the conscience and subliminal parts of your brain you'll be able to unlock the path of your future into your future you can begin to understand the people around you better and nurture better relationships you won't think that your opinions are the only right opinions and all of this will help you improve as a human and get closer to your ultimate goals an example of this that dalio gives is making your passion work it's much easier to do this with both your emotion and logic are working together so that you can get fulfillment out of what you do while having the discipline needed to do it this alignment will help you approach your struggles better too you'll be more resilient and persevering and know that you need to stick it out through rough times to reach your goals dalio also says that struggling is a good thing a lot of people think that the opposite is true because they're scared or uncomfortable with the idea of struggling but struggling is what helps you grow it's what helps you improve and it's ultimately what shapes you into the human that you are when you go through struggle you'll also have so many lessons to take forward with you in his book principles dalio puts forward this very interesting yet simple idea he calls the Holy Grail of investing this Holy Grail essentially refers to diversification dalio highlights that diversification is important for managing risk in investing most people think that just choosing different assets within the same class is enough to protect their Investments but dalio says that this isn't true he says that assets within the same class are usually about 60 correlated with each other so you need to choose assets that are unrelated to one another dalio recommends choosing a small number of good uncorrelated Investments that are balanced and leveraged well this way you maximize returns while keeping risk at a reasonable level dalio also emphasizes the importance of reducing the return to risk ratio by a factor of five this means increasing returns while keeping risk the same which is key to building a strong portfolio that performs well in both the short term and the long term dalio says that realizing the importance of this Holy Grail was an epiphany for him and changed the way he did everything he says that the average person can be overwhelmed by all the information out there and then they think they can enter a tricky zero-sum game of betting against the consensus and be right we all hear the advice of the not following the herd mentality and going the opposite way of what everybody else is doing but what the average person ends up doing is choosing a company that they believe could be an underdog which it could be but there's just such a low chance of this that people end up failing and losing money big time and the truth is everybody will face a crash but you can either have a aha moment or you can walk off the field and give up completely to fight back it's important to surround yourself with the right people and with smart people who don't agree with what you say because you can learn from each other's differing opinions and become more open-minded it's only when you're open-minded and constantly absorbing Knowledge from people around you that your bet against the consensus can have the best chance of succeeding dalio also talks about the interesting notion of thoughtful disagreement this idea of thoughtful disagreement is that even when you don't agree with other people you can take their thoughts in your thought and consciously understand why you disagree rather than just instinctively saying that you disagree it's about truly listening to and understanding different perspectives before forming your own opinion on the matter arguments and debates can be useful because they can help identify problems in a theory prevent problems from happening in the first place and lead to new ideas Ray dalio knows how to tell the difference between productive and harmful conflict when a group works together towards a common goal even if they disagree it can be productive this is important for achieving success dalio also points out that within a group each person may have their own assigned role or domain this is especially useful to practice in business and relationships where there's a clear understanding of who's responsible for what and this can lead to more clarity fewer disagreements and an increased trust in one another these principles shape dalio into the successful businessman that he is but there are also some principles specific to his marketing that contributed to his growth which you can take lessons away from as well Ray dalio started investing when he was young and also worked as a consultant as a consultant it's important to always come up with new ideas understand other people's needs and explain and choose the best options dalio realized that his clients wanted ongoing advice so he started a newsletter to share his insights with more people now his newsletter is very popular among investors and decision makers empathizing with people and having their needs in front of your mind while coming up with new and Creative Solutions is extremely important in building trust with others and being recognized is a credible Authority in your industry something that dalio and Bridgewater did to stand out is they shared information and knowledge with others this is different from other investment companies that are very secretive transparency is important to Bridgewater because it helps the company to be more open and educational dalio is very intelligent and helps others using his knowledge investors can read short reports about Market developments and long research papers on Bridgewater's website the company also has monthly meetings where they talk about their performance and how they did compared to what they expected being transparent is the key lesson to take away here whether that's with other people in your business with clients or prospects the more transparent you are the more likely it is others will trust you so that's a breakdown of the mindset that goes behind the scenes in the success of Ray dalio and what's he achieved this billionaire mindset can help you evolve not only as a business person or investor but also personally when you develop as a person you're self-aware creative independent empathetic and yet a hyper realist with big yet attainable goals and there's no doubt that you'll reach success what was the key lesson that you learned in this video let us know in the comment section down below and I'll see you next time
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