‘Pain is a Great Teacher’

Discussion in 'Wall St. News' started by dealmaker, Jun 29, 2019.

  1. dealmaker

    dealmaker

    ‘Pain is a Great Teacher’: How Ray Dalio, the World’s Most Successful (and Mysterious) Hedge-fund Founder, Came Back from Financial Ruin (Business Insider)
    Ray Dalio is one of the most influential figures in the world of finance. He started Bridgewater Associates out of his apartment in 1975, and grew it into the world’s largest hedge fund. It now has $150 billion in assets under management. Over his career, the billionaire investor has become well known for his unusual management style, rooted in what he calls “radical transparency.” At Bridgewater’s Connecticut office, employees use iPads to rate each other’s performance in real time.
     
  2. The 93.333% accuracy guy should give this a read.
     
  3. MattZ

    MattZ Sponsor

    I believe that sweat equity, effort, and work ethic that was developed as a result of a struggle will be engraved in one's DNA for future challenges. Pain itself does not make you better because some can recover and many do not.
     
    zdave83, trader99 and dealmaker like this.
  4. Key point is whether you undergo the metamorphosis necessary. Of course, Dalio could just be on a lucky streak.
     
  5. MattZ

    MattZ Sponsor

    I read his book "Principles". RD has turned every point in his life to a learning experience and then quantified it. His success is not luck.
     
    expiated, SimpleMeLike and dealmaker like this.
  6. Depends on how long Bridgewater survives w/o him. From what I understand, the typical corporate cattiness is rearing its head.
     
  7. Handle123

    Handle123

    I don't believe in this at all, because of some failure only then some one is going to start working back? I believe it is created during one's young years as a child, people saying no you can't for one reason or another, you either sit there and accept or you revolt and show them they are wrong. Most people in USA are couch potatoes that "make a living" who rather watch other's struggle to "make a life", you persevere when all you see nothing but walls knowing you can find the path of less traveled, you know that truth is the hardest chose but it is easiest to remember but it takes longer to accomplish, and duck tape are for those who think it best way to make fixes when they too lazy to spend time to correctly fix.

    I deal with pain daily, seldom take meds for pain, but I see pain as a reward for more time to accomplish more in my life, it is when you don't have pain-you will worry that it has gone dead. But various pains with either give you more in life or take away all that you are, depends on you.
     
  8. LS1Z28

    LS1Z28

    There's an old saying that there are 2 types of pain, pain that hurts and pain that changes you. It's a well known fact that it becomes more difficult to change as you get older. Sometimes it's necessary to go through a painful or traumatic experience to facilitate change. I'm sure there are a lot of traders that have experienced this throughout their careers.
     
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  9. Nobert

    Nobert

    Some time ago, i posted something, with this word in the center of focus.

    I was renting a room, with cockroaches, occasionally being my only friends at that time, because all of the effort went to art,..Nothing was working out, uncertainty about the future, slowly but surely, was transforming into existential crisis,.. And then, few weeks later, accidentally, i saw a strange term for the very first time -

    SnP 500... :)

     
    Last edited: Jun 29, 2019
    #10     Jun 29, 2019
    vanzandt, nooby_mcnoob and LS1Z28 like this.