Are Ray Dalio's Principles the Secret to His Success?



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Since founding Bridgewater nearly 50 years ago, Ray Dalio has become one of the world’s richest investors. He is widely credited with having predicted and profited from both the 1987 crash and the 2008 financial crisis. He is the founder of the world’s largest hedge fund and is one of the most successful businessmen alive, yet he professes to be seeking something more meaningful than just money or business success.

According to Dalio, his main interest, over the last twenty years is to lead others toward “meaningful lives” and “meaningful relationships” through the application of his principles. He has written a number of books and given a Ted Talk on this topic.

Rob Copeland is a journalist at the New York Times and was previously the longtime hedge fund beat reporter at The Wall Street Journal. In his new book “The Fund” he smashes through some of the mystique built up around Ray Dalio in recent years. He argues that very little of Dalio’s success is due to his widely promoted “Principles” and can be better explained by his ability to befriend influential people and impress them with his broad knowledge of the world, his skill at getting good publicity, and his early investment success.

Rob interviewed hundreds of Bridgewater employees in order to write this unauthorized biography that shows Ray Dalio in a very different light.
Dalio declined to be interviewed for the book and has threatened a lawsuit against Rob and his publisher. In today’s video I interview Rob to hear his account of life at Bridgewater and whether he believes Ray Dalio’s principles are worth following.

The Fund by Rob Copeland: https://amzn.to/40qLMMk
Principles by Ray Dalio: https://amzn.to/46WTO22

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  1. Visionary Star

    I don't think he needed to write a whole book about ray but he did make some great point as a journalist I guess it's his job

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  2. Jason Bouchard

    a couple minutes in and I feel like I am eavesdropping on someone's private life—this is creepy. click.

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  3. Raza Daza

    This guy want to be the next John Carirou? Well I’m for that, I’ll get this book

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  4. C Cannon

    48:55

    Tough to be a bully through Zoom.

    This is is the real reason why many bosses want a return to the office.

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  5. Will Bockoven

    Another great interview Patrick, this is top shelf!

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  6. Rene Lopez

    This is really good!

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  7. TradeOne

    whatever it may be! he shared all the knowledge about econamy in his youtube video's and book's, even common man can understood so don't critisize them just learn from them and evolve using that knowledge.

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  8. Meta 4kl

    Interesting. If you enter dalio biography into Youtube search, nothing comes up about this bokk. Power behind the scenes?

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  9. Jay Earl

    Its says a lot if Ken Griffin is made to look more human than Ray Dalio😄

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  10. bp56789

    Dalio's principles predicted his own rise and fall. Truly inspirational.

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  11. yeabsira sefr

    more proof that most journalists are still a bunch of useless idiots

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  12. Allan HUtton

    Ray the future Bernie Madoff

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  13. Josh Er

    Thanks

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  14. Steve Ben

    The most important thing that should be on everyone's mind currently should be to invest in different sources of income that don't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in various stocks, Gold, silver, and digital currencies

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  15. Alexander Chen

    If you want to be a loser, listen to Ray Dalio

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  16. Thomas Crew

    Taking complex things and making them simpler is the mark of genius. Dalio likes to go in the other direction and blow his own horn at the same time.

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  17. Ian McEachern

    Thank goodness for good journalism like this, purchased! I bought and read Principles, can't wait to read this!

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  18. Bax Out The Box

    The Bootstrapping narrative these billionaires tell is constantly reinforced by the news media, movies, podcasts, “hustle” culture, etc. And there is massive demand for this kind of content because we have been conditioned to believe that willpower is what separates the most successful people from the least. This idea has been disproven many times over, but it is an incredibly insidious idea that is foundational to American culture. The reality is that luck and connections are the primary drivers of success in our world, and that is a tough pill to swallow because it requires that we accept the chaos and randomness that drives outcomes. It is much easier to believe that we control our own destinies.

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  19. KK S

    for those who hope to understand through this book how the largest hedge fund manages investments of over 100 billion dollars, ‘The Fund’ is likely to disappoint you. The book does not provide much incremental information about how Bridgewater’s massive macro research and investment system operates, nor does it fully dissect Bridgewater’s intricate macro machine. Rather than attempting to reconstruct Bridgewater’s money-making methods from a financial perspective, ‘The Fund’ is more about trying to pull the best-selling book ‘Principles’ off its pedestal on a cultural level.

    For example, in ‘Principles’, Dalio clearly writes that his investment holy grail is asset allocation: Just as Einstein felt when he discovered E = mc², I realized that if I had 15-20 good, non-correlating streams of return, I could significantly reduce my risk without reducing my expected return. Knowing how to combine different streams of return is more effective than being able to pick good ones (although obviously, you must do both).

    However, ‘The Fund’ disagrees.”

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  20. Krasimir Koychev

    Winning a popularity poll again Niall Ferguson is really funny, since both guys "predicted" the 2008 crisis and rode high in the aftermath.

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  21. Codeless Unlimited

    Why would a billionaire sue the author of the book? Crazy Ray and his infinite Gs.

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  22. Roshan Khengare

    Ray Dalio really handing out those Logan Roy vibes…

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  23. Eric Albertson

    Loved the book! Can’t imagine a better interview to illuminate the book than this beautiful interview. Ray seems to be caught is a classic Adlerian Inferiority Complex… lots of compensatory behavior from Ray to the profound emotional detriment of many who have the misfortune to intersect with him.

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  24. Ian McEachern

    The insights that Rob shares at the end of the video are so powerful. Many people go their whole lives not realizing them. Steve Jobs realized them on his death bed. I bought the book in the first 10 minutes of this video and am so glad I stayed to watch the whole video. You both are truly awesome, stay that way!

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  25. Eddie Rosario

    Self made billionaire my ass

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  26. NG

    I didn't want this to end. Two enquiring minds challenging each other's ideas. I can think of no better person to do this interview than Patrick.

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  27. qwerty

    People love to tell the rags to riches story with about as much hunger as people like to tell the just another privileged white person story. Opposite ends of the same coin.

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  28. HrHaakon

    Now, I'm an idiot and all, but if I were to hire really smart people to do really smart people stuff, I'd be more happy if someone dares to disagree, because at least I know that person has the courage of their own ideas, and isn't just another brown-tongue.

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  29. JB Wentworthe

    Stansberry Research subscription stock market advice also deserves analysis report.

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  30. JB Wentworthe

    On listening to this discussion — sounds like a person who can't bear the thought of being forgotten. No confidence in an afterlife — must be in the history record along with Jobs,Buffet, Churchill, Vanderbilt etc. What good is having "more money than God" if it doesn't but you a place among the Stars.

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  31. Bax Out The Box

    He sounds like the dad in succession

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  32. Ryan Brown

    When I first came to know of Ray, my gut feeling was something doesn't add up here. Now, I know.

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  33. Ryan Healy

    I’m a little disappointed that the book isn’t called The Most Principled Man.

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  34. Ryan Healy

    Ray Dalio made more money than he knows what to do with and decided to create the panopticon.

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  35. Justin S

    ccp firm

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  36. Riled Mouse

    Loved this, but would have loved it more if he could have come out and just said what’s so terrible about Dalio.

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  37. tenbootz

    Steve Jobs went more viral after his death. That's one that Ray is still yet to find out.

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  38. A. Ali

    Ray was full of nonsense for useful idiots with EZ money at pension funds … i knew it since college …. Most of his principles were invented in Indian guru caves 8000 years ago …. He is pathetically American 🇺🇸

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  39. Willem Fourie

    Insightful !!

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  40. The Ultimate Reductionist

    Ray Dalio has ZERO authority over what other people say or do on their own property, which includes their own YouTube channel or website, which includes what they say about anything, which includes anything they say about Ray Dalio.
    People have the absolute right to free speech.

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  41. Sterling Peyton

    Why does this kind of sound like an episode of Billions?

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  42. Git Gud

    39:48 😂

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  43. Troy Mann

    There are a large number of investment gurus who have similar rules/principles products. There are even more business owners who are true believers that have purchased and used these products. The milage may vary. Caveat emptor. What I got from Principles was a method that would apply to a business breakup, failure, or even lawsuits. Very similar to Bill Bratman's book. The guys in my little trading group have found that patterning after Jim Simons has worked better for us. Rules based was perhaps workable in the 1980s and 90s but in today's market, data driven goes a lot further.

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  44. Vitalii Rudko

    Every time this guy, Dalio, does an interview, there are bookshelves in the background. I've never been able to spot any finance-related titles though.

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  45. No Time Flat

    One of the best interviews and back and forth thoughtful exchanges of ideas I have seen anytime and any where. Hear hear. Well done. A great credit to both of you.

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  46. Alias Lindon

    Well I have bought the book.

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  47. Patrick Boyle

    Sign up for Compounded Daily — a totally free daily newsletter at this link: https://www.compoundeddaily.com/

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