Bill Ackman Manages Over $11 Billion in Assets. With a 17% average return since inception. And a 70% return in 2020!. He makes all of his Analysts read these 11 books:

Overconfidence can lead to excessive risk-taking. Many investors overestimate their ability to beat the market.

"If you’re not willing to own a stock for 10 years, don’t even think about owning it for 10 minutes." . — Warren Buffett.

Have you negotiated your salary before?.

Loss aversion is real. Investors feel the pain of losses about twice as strongly as they enjoy equivalent gains.

"There is nothing riskier than the widespread perception that there is no risk." . — Howard Marks.

Emotions are the enemy of rational investing. Fear and greed often lead to buying high and selling low.

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Ray Dalio didn’t get rich chasing trends. He got rich studying how the world works and building systems to profit from it. His lesson?. “He who lives by the crystal ball will eat shattered glass.”.So build a model instead.

Ray Dalio didn’t promise easy answers. He offered frameworks:. Be radically open-minded.Expect mistakes.Diversify risks.Understand history.Have principles that guide decisions.

He warned for years about:. Rising debt.Wealth inequality.Internal conflict.U.S.–China tension.Currency debasement. You don’t have to agree with him. But his track record says you should probably listen.

Dalio constantly studied history:. Weimar Germany.The Great Depression.The rise and fall of empires. He believed markets don’t repeat but they rhyme. His big question:. “Where are we in the cycle?”.

His signature portfolio idea:. 🧱 The All Weather Portfolio.Built to survive any market environment. Simple breakdown (approximate):. 30% stocks.40% long-term bonds.15% intermediate bonds.7.5% gold.7.5% commodities. Boring? Yes. Durable? Also yes.

Dalio’s investing style?.✅ Macro.✅ Diversified.✅ Risk-parity.✅ Extremely systematic. He didn’t bet big on single stocks. He bet on themes, trends, and imbalances across countries, currencies, and commodities.

Ray’s book Principles lays it all out. “Pain + reflection = progress.”.He turned mistakes into algorithms. Created rules for thinking. And built one of the most disciplined investment operations ever.

Dalio wasn’t just a market guy, he was a systems guy. Bridgewater ran on radical transparency:. Every meeting recorded.Brutal honesty encouraged.Employees rated each other.Ideas > hierarchy. Some called it cultish. Dalio called it “truth-seeking.”.

He explains it all in this legendary video:. 🎥 “How the Economic Machine Works” (2013). 40M+ views — and it’s actually good. Here’s the TL;DR:.Debt = money today, pain tomorrow.Too much = recession.Too much for too long = depression.

Dalio’s framework = The Economic Machine. Three core drivers:. 1. Productivity growth.2. Short-term debt cycle.3. Long-term debt cycle. When debt gets too high → deleveraging follows → cue the fireworks.

In 2008, while most of Wall Street was melting down, Dalio was up double digits. Why?.He saw the debt bubble forming. Studied history. Backtested 100 years of financial crises. And positioned early. Not luck. Process.

Dalio’s core belief:. “Markets move because of cause-and-effect relationships.”. Not noise. Not vibes. Every move including inflation, interest rates, and asset prices follows a cycle. Understand the cycle and understand the game.

Ray Dalio started Bridgewater in 1975… from his apartment. By the 2010s? It was managing $160 billion. His edge?.He didn’t try to outsmart the market. He tried to understand how it works.