📖Ray Dalio
Radical Open-Mindedness
Overcome ego to see reality clearly.
Don't let your ego barrier or blind spot barrier prevent you from seeing things as they really are. Be radically open-minded.
🏠 Everyday Analogy
📖 Core Interpretation
Ray Dalio advocates a repeatable process: define criteria, execute consistently, and review decisions against evidence. Process quality drives outcome consistency.
💎 Key Insight：Radical open-mindedness corrects blind spots.
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❓ Why It Matters
Without process, there is no reliable feedback loop. Structured execution and review improve decision quality over time.
🎯 How to Practice
Run a decision loop of research, thesis, execution, and post-mortem; document assumptions and update playbooks with evidence, not hindsight bias.
⚠️ Common Pitfalls
Having opinions without execution criteria
Reviewing outcomes but not decisions
Abandoning rules during volatility spikes
📚 Case Studies
1
Navigating the Global Financial Crisis (2008)
Bridgewater’s ‘economic machine’ framework anticipated deleveraging and deflation. The firm reduced risk in equities and credit, increased quality sovereign bonds and some hedges.
✨ Outcome：Pure Alpha performed strongly in 2008, protecting client capital and demonstrating the power of model-driven thinking about the economy as a machine.
2
Bet on Falling Interest Rates (1982)
Dalio predicted recession and falling inflation, buying long-term US Treasuries when yields were historically high.
✨ Outcome：Bonds rallied sharply as rates fell; Bridgewater’s returns surged, reinforcing his principles-based macro approach.
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