​Using ‘Principles’ by Ray Dalio to Find My Own Process

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“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.

“Writing about a subject is the best way to educate yourself about it, and when I flick through past work I remember how much they taught me if no one else. Mainly they taught me that I didn’t know very much. But they also taught me that most other people didn’t know much either. Thus, some key themes which stand out include the illusory control of policymakers, the presumed knowledge of those looking to them to actively do good, the ease with which we fool ourselves, and how best to protect capital in the face of such unavoidable uncertainty. — Dylan Grice

And wouldn’t you know it he (Mr. Heisenberg) just posted a piece about Ray Dalio? Check it out Here:

Ray Dalio: ‘I’m Raising My Probabilities For All Kinds Of Wars’

How serendipitous. Anyway, I’ll leave you a rejection email from said Bridgewater Associates for nostalgic purposes.

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P.S.- Does anyone remember when Maria Bartiromo talked at Mr. Dalio during The Council on Foreign Relations Corporate Program’s CEO Speaker Series. No? It’s like a nail on a chalkboard. Check it out.





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