{"id":52,"date":"2020-12-06T16:41:26","date_gmt":"2020-12-06T16:41:26","guid":{"rendered":"https:\/\/learnfromnotes.com\/?p=52"},"modified":"2020-12-13T14:51:47","modified_gmt":"2020-12-13T14:51:47","slug":"principles-raylio","status":"publish","type":"post","link":"https:\/\/learnfromnotes.com\/principles-raylio\/","title":{"rendered":"Principles &#8211; Ray Dalio"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_45_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"ez-toc-toggle-icon-1\"><label for=\"item-6414cf22522f8\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-6414cf22522f8\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#5_steps_to_success\" title=\"5 steps to success\">5 steps to success<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Step_1_Have_clear_goals\" title=\"Step 1: Have clear goals\">Step 1: Have clear goals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Step_2_Identify_problemsobstacles\" title=\"Step 2: Identify problems\/obstacles\">Step 2: Identify problems\/obstacles<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Step_3_Diagnose_the_root_cause\" title=\"Step 3: Diagnose the root cause\">Step 3: Diagnose the root cause<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Step_4_Design_principles_for_avoiding_the_problemsobstacles_in_the_future\" title=\"Step 4: Design principles for avoiding the problems\/obstacles in the future\">Step 4: Design principles for avoiding the problems\/obstacles in the future<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Step_5_Follow_the_principles\" title=\"Step 5: Follow the principles\">Step 5: Follow the principles<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#What_are_principles\" title=\"What are principles?\">What are principles?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#How_to_find_principles\" title=\"How to find principles?\">How to find principles?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#How_to_improve_your_principles\" title=\"How to improve your principles?\">How to improve your principles?<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Life_principles\" title=\"Life principles\">Life principles<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Understand_your_2_biggest_barriers\" title=\"Understand your 2 biggest barriers\">Understand your 2 biggest barriers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Solve_your_2_biggest_barriers_with_open-mindedness\" title=\"Solve your 2 biggest barriers with open-mindedness\">Solve your 2 biggest barriers with open-mindedness<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Humility\" title=\"Humility\">Humility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Radical_transparency\" title=\"Radical transparency\">Radical transparency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Seeing_yourself_as_a_machine_within_a_bigger_machine\" title=\"Seeing yourself as a machine within a bigger machine\">Seeing yourself as a machine within a bigger machine<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Consider_whether_to_find_big_picture_or_in_details\" title=\"Consider whether to find big picture or in details\">Consider whether to find big picture or in details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Understand_that_we_are_all_wired_differently\" title=\"Understand that we are all wired differently\">Understand that we are all wired differently<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Work_principles\" title=\"Work principles\">Work principles<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Make_believability-weighted_decisions\" title=\"Make believability-weighted decisions\">Make believability-weighted decisions<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#How_Ray_Dalio_operates_Bridgewater\" title=\"How Ray Dalio operates Bridgewater\">How Ray Dalio operates Bridgewater<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Personality_tests_they_use\" title=\"Personality tests they use\">Personality tests they use<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Coach\" title=\"Coach\">Coach<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Dot_collector\" title=\"Dot collector\">Dot collector<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Baseball_cards\" title=\"Baseball cards\">Baseball cards<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#People_profile\" title=\"People profile\">People profile<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Combinator\" title=\"Combinator\">Combinator<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Issue_log\" title=\"Issue log\">Issue log<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Pain_button\" title=\"Pain button\">Pain button<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Dispute_resolver\" title=\"Dispute resolver\">Dispute resolver<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Daily_update_tool\" title=\"Daily update tool\">Daily update tool<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Contract_tool\" title=\"Contract tool\">Contract tool<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Process_flow_diagrams\" title=\"Process flow diagrams\">Process flow diagrams<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Policy_procedural_manual\" title=\"Policy &amp; procedural manual\">Policy &amp; procedural manual<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Metrics\" title=\"Metrics\">Metrics<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Making_decisions\" title=\"Making decisions\">Making decisions<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Techniques_for_good_decision_making\" title=\"Techniques for good decision making\">Techniques for good decision making<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Getting_perspective\" title=\"Getting perspective\">Getting perspective<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Other\" title=\"Other\">Other<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#How_much_better_is_it_to_be_REALLY_successful\" title=\"How much better is it to be REALLY successful?\">How much better is it to be REALLY successful?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-40\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#We_are_insignificant\" title=\"We are insignificant\">We are insignificant<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-41\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/#Investing_advice\" title=\"Investing advice\">Investing advice<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"5_steps_to_success\"><\/span>5 steps to success<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<ul><li>They are iterative<\/li><li>Do them ONE at a time!<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Step_1_Have_clear_goals\"><\/span>Step 1: Have clear goals<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>You shoulder (almost) never drop a goal because you think it&#8217;s unattainable!<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Step_2_Identify_problemsobstacles\"><\/span>Step 2: Identify problems\/obstacles<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Bring problems to the surface, so you can learn from them<\/li><li>Don&#8217;t mistake causes with problems!<ul><li>Problem = Poor performance<\/li><li>Cause = Not getting enough sleep<\/li><\/ul><\/li><li>While the logical part of your brain knows it&#8217;s good to address your problems, your emotional part hates it<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Step_3_Diagnose_the_root_cause\"><\/span>Step 3: Diagnose the root cause<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Diagnose before proposing solutions<\/li><li>Find the disease rather than the symptoms (look at ROOT causes, rather than proximate causes)<ul><li>Symptoms = I missed the train because I didn&#8217;t buy train tickets<\/li><li>Disease = I missed the train because I&#8217;m forgetful<\/li><\/ul><\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Step_4_Design_principles_for_avoiding_the_problemsobstacles_in_the_future\"><\/span>Step 4: Design principles for avoiding the problems\/obstacles in the future<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Step_5_Follow_the_principles\"><\/span>Step 5: Follow the principles<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"What_are_principles\"><\/span>What are principles?<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<ul><li>Principles = Decision making criteria<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"How_to_find_principles\"><\/span>How to find principles?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Categorize situations and find principles for dealing with them:<ul><li>Pain + Reflection (find the root cause) = Principles <\/li><\/ul><\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/s3.us-west-2.amazonaws.com\/secure.notion-static.com\/bc86421c-59d9-458a-becd-5afa70e41aab\/Untitled.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20201213%2Fus-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20201213T144859Z&amp;X-Amz-Expires=86400&amp;X-Amz-Signature=c1a693a209edd4d1cc68109b5bc26e6ac2d1bc68fb72615341291ed5a2a114e5&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=filename%20%3D%22Untitled.png%22\" alt=\"\"\/><\/figure>\n\n\n\n<ul><li>Use other peoples principles<\/li><li>What do do when experiencing a new type of situation you don&#8217;t have principles for?<ul><li>Find someone who has!<\/li><\/ul><\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"How_to_improve_your_principles\"><\/span>How to improve your principles?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Analyze previous decisions to see if they would have worked<\/li><li>Write them down as algorithms a computer can run!<ul><li>Computers can process more information and are unemotional!<\/li><li>Compare your intuitions with the decisions made by the computer:<ul><li>If the computer were right and your intuition were wrong, examine why<\/li><li>If your intuition was right and the computer were wrong, consider updating the principles the computer uses<\/li><\/ul><\/li><\/ul><\/li><\/ul>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"Life_principles\"><\/span>Life principles<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Understand_your_2_biggest_barriers\"><\/span>Understand your 2 biggest barriers<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ol><li>Ego barrier<ul><li>It&#8217;s hard to see your own weaknesses &amp; mistakes!<\/li><\/ul><\/li><li>Blind spot barrier<ul><li>We all see the world differently (Linear vs. lateral thinking, big picture vs. details, etc.)<\/li><\/ul><\/li><\/ol>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Solve_your_2_biggest_barriers_with_open-mindedness\"><\/span>Solve your 2 biggest barriers with open-mindedness<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Realize that others might see something more accurately than you<ul><li>The probability that you have the best answer is really low!<\/li><\/ul><\/li><li>How to be more open minded?<ul><li>Explore different points of view while being in the state of &#8220;not knowing&#8221;.<\/li><li>Understand the arguments of the smartest people who disagree with you<\/li><li>When someone is more believable than yourself, place them as teacher and yourself as student<\/li><li>If everybody disagrees with you, try to figure out the reason for it!<\/li><\/ul><\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Humility\"><\/span>Humility<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Humility is important, because it&#8217;s required for seeking help from others<\/li><li>Knowing a lot + humility is better than either alone! <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/s3.us-west-2.amazonaws.com\/secure.notion-static.com\/3a457fd5-7b2e-4308-b063-fb72a292e9dd\/Untitled.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20201213%2Fus-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20201213T144925Z&amp;X-Amz-Expires=86400&amp;X-Amz-Signature=2eb446eb6abc2fdb16955b1115d673ec0bf7d6dda29a0e2b0d11fe718ffb2761&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=filename%20%3D%22Untitled.png%22\" alt=\"\"\/><\/figure>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Radical_transparency\"><\/span>Radical transparency<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Seeing_yourself_as_a_machine_within_a_bigger_machine\"><\/span>Seeing yourself as a machine within a bigger machine<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>It&#8217;s more important to be a designer of your machine, than a worker of your machine (even though both are important)<\/li><li>How to improve your machine?<ul><li>Identify recurring problems!<\/li><li>Compare your outcomes with your goals!<\/li><\/ul><\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Consider_whether_to_find_big_picture_or_in_details\"><\/span>Consider whether to find big picture or in details<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Only go into details when necessary<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/s3.us-west-2.amazonaws.com\/secure.notion-static.com\/958df3fe-eee1-460d-8ca5-16a9f10cafa8\/Untitled.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20201213%2Fus-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20201213T144940Z&amp;X-Amz-Expires=86400&amp;X-Amz-Signature=fb53080ec31a3f7534c2866127bd3a2ae05e6703a05b50c15af439c882b2ebc7&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=filename%20%3D%22Untitled.png%22\" alt=\"\"\/><figcaption><img src=\"https:\/\/s3.us-west-2.amazonaws.com\/secure.notion-static.com\/45cee3ac-9b3b-4052-8d3a-46b7c272d6bd\/Untitled.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20201213%2Fus-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20201213T144943Z&amp;X-Amz-Expires=86400&amp;X-Amz-Signature=bf1764073647488b0b7206c8bf5e50306718a0419bf06e9c1b64b724c1aed977&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=filename%20%3D%22Untitled.png%22\"><img src=\"https:\/\/s3.us-west-2.amazonaws.com\/secure.notion-static.com\/93a712a4-3ace-49ac-9b2b-6b789a5f95cc\/Untitled.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20201213%2Fus-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20201213T144948Z&amp;X-Amz-Expires=86400&amp;X-Amz-Signature=ca1da314a448f89bf68c0562dc594f216a7b55f8f7aa404bd434d37a7824f7c7&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=filename%20%3D%22Untitled.png%22\"><img src=\"https:\/\/s3.us-west-2.amazonaws.com\/secure.notion-static.com\/9fc784dd-c177-42dc-b522-5a677a812195\/Untitled.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20201213%2Fus-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20201213T144951Z&amp;X-Amz-Expires=86400&amp;X-Amz-Signature=a4eebe5b92736bbf41177575c3dce9adb19db0a880ee71f86f6fee687af4e57a&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=filename%20%3D%22Untitled.png%22\"><\/figcaption><\/figure>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Understand_that_we_are_all_wired_differently\"><\/span>Understand that we are all wired differently<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/s3.us-west-2.amazonaws.com\/secure.notion-static.com\/ee3f8e8e-b3eb-4dc1-8833-33a5900188d9\/Untitled.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20201213%2Fus-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20201213T145032Z&amp;X-Amz-Expires=86400&amp;X-Amz-Signature=98f514257b9a531df62a35fed9886ac232a544aee73fb0b35a37219ea0835afa&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=filename%20%3D%22Untitled.png%22\" alt=\"This image has an empty alt attribute; its file name is Untitled.png\"\/><\/figure>\n\n\n\n<ul><li>Just like we are born with physical constraints, we are also born with mental constraints<ul><li>Some can be changed through training while others can&#8217;t.<\/li><li>Brain plasticity is real, but the brain isn&#8217;t 100% mallable<\/li><\/ul><\/li><li>Find ways of dealing with your weaknesses<ul><li>Deny them (what most people do)<\/li><li>Turn them into strengths<\/li><li>Find workarounds<\/li><li>Pursue different goals<\/li><li>Get help<\/li><\/ul><\/li><li>We are preprogrammed with learning<ul><li>We are instinctively afraid of snakes, but not of flowers<\/li><\/ul><\/li><li>You have to see yourself and others objectively<ul><li>Looking at yourself objectively is hard, so get help from others input!<\/li><\/ul><\/li><\/ul>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"Work_principles\"><\/span>Work principles<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<ul><li>Understand that most people will operate according to their own interests<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Make_believability-weighted_decisions\"><\/span>Make believability-weighted decisions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Believable people are those who have repeated successes and can explain the cause-effect relationships behind them<\/li><li>Bridgewater&#8217;s dot collector lets them see the believability-weighted conclusion and the equal-weighted conclusion, to see if there are any disagreements<ul><li>The dot collector uses ratings on different attributes (creativity, expertise in subject, etc. ) from peers &amp; tests.<\/li><\/ul><\/li><\/ul>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"How_Ray_Dalio_operates_Bridgewater\"><\/span>How Ray Dalio operates Bridgewater<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Personality_tests_they_use\"><\/span>Personality tests they use<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>MBTI<\/li><li>The workplace personality inventory<\/li><li>The team dimensions profile<\/li><li>Stratified systems theory<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Coach\"><\/span>Coach<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Library of common scenarios and the principles to apply<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Dot_collector\"><\/span>Dot collector<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>See each others thought in real time<\/li><li>Give each other positive or negative dots for specific attributes, which is dynamically inserted into a grid for everyone to see<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Baseball_cards\"><\/span>Baseball cards<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Information from reviews, tests, choices they make, etc.<ul><li>This information is analyzed by computers to generate people&#8217;s strengths &amp; weaknesses on the baseball cards<\/li><\/ul><\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"People_profile\"><\/span>People profile<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>A text summary of the baseball cards<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Combinator\"><\/span>Combinator<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Name some people you would like to solve a problem, and then it synthesizes their strengths and find similar people<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Issue_log\"><\/span>Issue log<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Who made which mistake?<\/li><li>How severe?<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Pain_button\"><\/span>Pain button<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Lets people record their pain as they experience it<\/li><li>Later they are prompted to reflect on it to make progress (because of his principle &#8220;pain + reflection = progress&#8221;)<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Dispute_resolver\"><\/span>Dispute resolver<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>A series of guided questions to resolve disputes<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Daily_update_tool\"><\/span>Daily update tool<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>For employees to report what they did, issues &amp; reflections on those issues<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Contract_tool\"><\/span>Contract tool<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>For everything people agree to do at meetings<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Process_flow_diagrams\"><\/span>Process flow diagrams<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Who has which responsibilities?<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Policy_procedural_manual\"><\/span>Policy &amp; procedural manual<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Instructions for how to behave<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Metrics\"><\/span>Metrics<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Find them by:<ul><li>Knowing your goals<\/li><li>Knowing the processes that lead to those goals<\/li><li>Finding the best places in the processes to measure<\/li><li>Find levers that affect those metrics<\/li><\/ul><\/li><\/ul>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"Making_decisions\"><\/span>Making decisions<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<ul><li>Based on your knowledge your decide which actions to take to pursue your goals, which are based on your values<\/li><li>Have the best possible life by:<ul><li>Knowing what the best decisions are<\/li><li>Having the courage to make them<\/li><\/ul><\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Techniques_for_good_decision_making\"><\/span>Techniques for good decision making<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Use logic, reason and common sense!<ul><li>Make expected value calculations<ul><li>Value of decision = (Benfits * likelihood of benefits) &#8211; (cost * likelihood of cost)<\/li><\/ul><\/li><li>Compare the benefit of gathering more information with the cost of waiting to decide.<\/li><\/ul><\/li><li>Perhaps get someone else to make your decision?<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Getting_perspective\"><\/span>Getting perspective<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Be wary of emotional decision making<ul><li>What feels good in the moment might be bad long-term<\/li><\/ul><\/li><li>When facing two seemingly opposed decisions, get the best of both worlds?<\/li><li>A group can make better decisions than an individual!<\/li><li>Remember that everything seems much bigger in the moment than in retrospect<\/li><li>Get rid of irrelevant details, so you can see what&#8217;s important!<ul><li>Also, usually don&#8217;t seek more than the 20% of information that gives you 80% of the results!<\/li><\/ul><\/li><\/ul>\n\n\n\n<h1><span class=\"ez-toc-section\" id=\"Other\"><\/span>Other<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"How_much_better_is_it_to_be_REALLY_successful\"><\/span>How much better is it to be REALLY successful?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>He experienced everything from being down to being on top<ul><li>Talked to those he wanted to talk to!<\/li><li>Gone where he wanted to go!<\/li><li>Gotten everything he wanted to own!<\/li><li>Done everything he wanted to do!<\/li><\/ul><\/li><li>But he says it wasn&#8217;t much better than having basic needs meet: Good bed, relationships, food &amp; sex!<ul><li>He is still struggling<\/li><li>The people at the top weren&#8217;t that much more special<\/li><li>Having a lot comes with heavy burdens<\/li><li>Being well known is probably worse than being anonymous<\/li><li>Even his impact was small, when putting things in perspective<\/li><\/ul><\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"We_are_insignificant\"><\/span>We are insignificant<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>You are 1 out of 7 billion people, which is 1 out of 10 million species on the planet, which is 1 out of 100 billion planets in our galaxy, which is 1 out of about 2 trillion galaxies<\/li><li>Your life is 1\/3000 of humanity&#8217;s existence, which is 1\/20.000 of the earths existence<\/li><\/ul>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Investing_advice\"><\/span>Investing advice<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul><li>Make many uncorrelated bets <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/s3.us-west-2.amazonaws.com\/secure.notion-static.com\/07dc9950-e9a8-4bda-9881-a34bc5fdb2c5\/Untitled.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIAT73L2G45O3KS52Y5%2F20201213%2Fus-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20201213T145048Z&amp;X-Amz-Expires=86400&amp;X-Amz-Signature=17e4ec9c2044bf68355678cecaa3d4e6459a76adf56a0b5219d89ade0a1cfa52&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=filename%20%3D%22Untitled.png%22\" alt=\"\"\/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>5 steps to success They are iterative Do them ONE at a time! Step 1: Have clear goals You shoulder (almost) never drop a goal because you think it&#8217;s unattainable! Step 2: Identify problems\/obstacles Bring problems to the surface, so you can learn from them Don&#8217;t mistake causes with problems! Problem = Poor performance Cause [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":56,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Principles - Ray Dalio - Learn From Notes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/learnfromnotes.com\/principles-raylio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Principles - Ray Dalio - Learn From Notes\" \/>\n<meta property=\"og:description\" content=\"5 steps to success They are iterative Do them ONE at a time! 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