Sunday, July 31, 2011

What I like about Ray Dalio

I like The New Yorker piece on Ray Dalio. He is the founder of Bridgewater Assoiates, one of the largest hedge funds today, known for its success in exploiting economic inefficiencies. Here's what really caught my attention:

"
... Dalio doesn’t rely solely on software. Unless he and Jensen and Prince agree that a certain trade makes sense, the firm doesn’t make it. 

...“When I’m thinking, ‘What is going on today?,’ I also need to make the connection to ‘How does what is happening today fit into our framework for making this decision?’  

...“I hear a lot of people describing what’s happening today without the proper historical context and without the framework of how the machine works,” he says. 
"

A number of people popped up in my mind as soon as I came across that passage. The reason that most people do not have an edge in trading the markets successfully, lies in their unwillingness to think on a deeper level.Oh well.

0 Reflections: