Quote of the day:
Share to linkedin
Two years out of business school, Dalio found himself with no job. When he was let go, he stayed on good terms with his brokers and their clients. They valued his advice and were still willing to pay him for it. Out of pure interest, Dalio had also been trading his own account on the side since graduating HBS. It struck him he could leverage circumstances to build a company of his own.In 1975, Bridgewater Associates was born.
This key insight drove much of his early success and by the late 1970s Bridgewater was gaining attention. That, though, was about to change.In the early 1980’s, Bridgewater experienced a fall out from the silver crash. Based on his models, Dalio predicted a depression would soon hit the U.S. economy. Instead, the U.S. experienced an economic boom. “I was dead wrong….
Making a choice, though, doesn’t make executing on that choice any easier. Dalio was now in his early thirties. He was paving a path forward with no guarantee of success, a little like trying to walk when it's pitch black. So he focused on what he could see. “From my earlier failures, I knew that no matter how confident I was in making any one bet I could still be wrong.” Dalio didn’t fixate on his past experiences; he fixed it. He applied the process to his work too.
“At some point in life you will crash in a big way. You might fail at your job or with your family, lose a loved one, suffer a serious accident or illness, or discover the life you imagined is out of reach forever. There are a whole host of ways that something will get you. At such times, you will be in pain and might think that you don’t have the strength to go on.
Many people think the point of life is to avoid pain, but the only way to beat failure is to forge through it. “I saw that to do exceptionally well you have to push your limits and that, if you push your limits, you will crash and it will hurt a lot. You will think you have failed - that won’t be true unless you give up. Believe it or not, your pain will fade and you will have many other opportunities ahead of you, though you might not see them at the time,” Dalio writes.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Biden's surprise ray of hope in CaliforniaDespite his weak polling in California, there’s a silver lining emerging for Joe Biden in the biggest delegate prize on the board next week
Les mer »
Successful People Have A Strong ‘Locus of Control’. Do You?Locus of control defines who you view as responsible for your successes and failures: yourself or other people.
Les mer »
Sanofi Pasteur researcher warns against overconfidence with coronavirus vaccine development'We think there are good tools and approaches at hand that will find success, but we should not be too overconfident that this can happen quickly,' Sanofi Pasteur's Dr. John Shiver said.
Les mer »
NYC special ed 'crisis' draws attention of state education officialsThe New York City school system is failing thousands of students who need special education services. And a six-story brick office building in downtown Brooklyn has become a microcosm of its dysfunction.
Les mer »
3 Traits That Differentiate Highly Likable Leaders From The Rest3 traits that differentiate highly likable leaders from the rest
Les mer »
Tory Burch Foundation Destigmatizes Ambition By Making Successful Women Visible Role ModelsThree 2020 Embrace Ambition Speakers Share Their Stories of Inspiration and Success
Les mer »