“The analysis we provide to clients should always be of the same quality it would be if I did it myself. That’s because when clients ask what “we” think, they aren’t asking what just anyone thinks—they want to know what I and the other CIOs, who are in charge of our investments, are thinking. ” – Ray Dalio. “Principles.” Chapter 11.
Obviously reading Principles by Ray Dalio is helping me contextualize my own process and thinking about managing and updated my own machine, that being Banyan Capital Management, LLC.
The quote that began this transcription is in response to the fact that I am an admitted neophyte when it comes to Bull & Bear cases for different asset classes throughout market spaces. I am always under the impression that my “views” if we can call them my own at all, are all derivative or convoluted regurgitations of someone else’s thoughts.
Therefore, admitting that I know nothing or as Mr. Dailo starts Principles, “Before I begin telling you what I think, I want to establish that I’m a “dumb shit” who doesn’t know much relative to what I need to know. ” – Ray Dalio. “Principles.” Introduction … helps set a solid base from which to work from. And even as I write this I am pulling quotes from the FINTWIT crowd that have harmonically struck a crowd. In this case, namely from Mr. Heisenberg of The Heisenberg Report, where he comments on the importance of writing about a subject in order to learn better.