Tag Archives: work

Meet Ray Dalio

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MDC shares the best line, “I remember my mistakes better than I remember my successes’

Bridgewater Associates founder Ray Dalio sat down with Business Insider CEO Henry Blodget to discuss his book “Principles: Life and Work.” Here Dalio explains the importance of learning from his mistakes.

“Principles: Life and Work” is the first of two planned books, and includes a short autobiography along with an expanded version of the “Principles” that all Bridgewater employees read when joining the company. Following is a transcript of the video.

Henry Blodget: And one of the other principles that you stress is this idea that you should teach your team to fish rather than giving them fish, but you gotta give ’em room to make mistakes. This is something that Jeff Bezos and many other incredibly innovate entrepreneurs have stressed again and again. We have to get over the fear of mistakes. This seems to be a key part.

Dalio: Well, you learn from mistakes and learn from pain. Like I say, you can scratch the car, but you can’t total the car. Okay. Mistakes is one of the best sources of learning, right. Successes mean you do the same thing over again, and okay, that’s fine, but mistakes that are painful stick. When I look back on my career, I think that the mistakes were the best thing that happened to me.

I remember my mistakes better than I remember my successes. Somehow there must be more of the successes to get me where I am, but I remember all the mistakes, and I remember the lessons. So that’s what I mean by pain plus reflection equals progress. So yeah, it’s okay for you to make mistakes. It’s not okay for you to not learn from those mistakes. That’s a principle in there, right. And so you have a culture that operates this way.

If you don’t have a culture that operates this way, it’s not gonna be self-reinforcing. And so the reason I’m talking about these types of principles rather than my economic and investment principles, which’ll come out in the next book is because these are the most fundamental principles, which are the basis of success. And they’re not just in investment, investment firms principles. It’s not just a hedge funds principles. It’s like life principles and how we’re gonna deal effectively with each other.

Happy Days are Here For Some 



City restaurants are bristling with energy.  Young people are dressing up and going out.  People are employed enough to start generating some economic stability, but there are so many burnt out individuals who have given up any sense of dream, survival in these days is only for the fit.

 

The joggers, thousands of them circling the inner roadways of the parks, many oblivious to anything but a sport headset running to the beat of the generation.   Runners staying fit tight butts in business attire.  Its a good time to be young.  History is a google thing, the war a distant  concept, buried behind Selfies and Instagrams.

 

To the Bye Bye Miss American Pie” generation who got it, who saw the dream crumble in an onslaught called Viet Nam, the ones that are left, still try to wear the truth.  It is with every action, like the war on pollution, or an artists transformative idea, the poetry, the film, the drum circle that break the dulled modern mind.  It is the battle, these new tools that if they could only beam me up, Scotty, or dispense toilet tissue then the utility of my phone/computer/camera/fax machine/bank/secretary,calendar/menu/pet care/etc. would have purpose other than to feed the fix.

 

Looking to get APP RICH?  Todays way to find happiness.  Maybe out of the forty-five million people out there with the APP of the century idea, well the lottery is a safer bet.  But dont stomp on Americans ability to dream, like the people before this generation, we too had a DREAM.


Work Work Work until Your Dead

The Great Recession has had a huge affect on people’s retirement plans — and many households are not adequately prepared for the future. This is according to the results of a new Federal Reserve survey.

Adults now expect to keep working past retirement age. According to the survey, 40% of non-retired adults over the age of 45 have delayed their planned retirement date because of the recession.

For the most part, non-retired adults ages 55 to 64 don’t expect typical retirements. 24% of those surveyed expect to keep working for as long as possible; 18% expect to pick up a part-time job after retirement; and 9% expect to become self-employed after retirement.

Additionally, some people were forced into early retirement because of the recession. Approximately 15% of those who retired since 2008 reported that they retired earlier than they intended.

And not only are people’s retirement plans changing, but the survey results suggest that many households are not prepared for retirement. 31% of non-retired respondents (including 19% of those aged 55 to 64) said that they don’t have any retirement savings or pension.

Almost half of adults reportedly “were not actively thinking about financial planning for their retirement”. A whopping 25% of adults reported that they had done no financial planning for their retirement, and 24% said that they had thought “only a little” about it.

In addition to not saving, many Americans have a spending problem.

“Just over half of respondents were putting some portion of their income away in savings, although about one-fifth were spending more than they earned,” wrote the study’s authors.

Source; businessinsider

The Dog Child

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Welcome the dog child. Up to 81% of Americans view their pets as family members, and think about their dogs as much as their children. 71% have a photo of their dog in their wallet or phone that they show other people.

There are obvious benefits to having dogs rather than children. Your dog will never slam a door in your face or tell you they hate you. They can be potty trained in eight weeks. They don’t need clothes, a car, or a college education.

In recent years, several discoveries about dogs make kids even less unique. It turns out that dogs are startlingly similar to human infants in several key areas, one of which is in the social domain.

At around nine months, human infants go through a social revolution. They begin to understand what adults are trying to communicate when they point and begin pointing out things to other people. By paying attention to the reactions and gestures of other people, as well as to what other people are paying attention to, infants are beginning to read other people’s intentions. This ability provides a foundation for all forms of culture and communication.

Every dog owner has helped a dog find a lost ball or stick by pointing in the right direction. It’s easy to take for granted the way dogs effortlessly interpret this simple gesture, but this ability is remarkable. Not only do dogs understand the meaning behind the point in a similar way to human infants, they are using the social information of a completely different species.

Soon after infants start reading gestures, they start to learn their first words. Anyone with children knows that toddlers learn words at an astonishing speed, and frequently use words that no one has “taught” them. This is because children learn by using inferences. For example, if you show an infant a red block and a green block, then say “Please give me the chromium block, not the red block,” most infants will give you the green block, despite not knowing that chromium is a shade of green. They inferred the name of the object.

A dog called Rico, and several other Border collies, can do the same thing. When Julianne Kaminski, from the University of Portsmouth, placed a new toy Rico had never seen before in a different room with seven of his toys that he knew by name. Then she asked Rico to fetch a toy using a new word he had never heard before, like ‘Sigfried’. Rico correctly fetched the new toy. One particularly verbose Border collie called Chaser learned over a thousand words this way.

Everyone knows that dogs are loyal, but recent research suggests that this devotion might go much deeper, even rivaling the attachment between children and their mothers.

Joszef Topal and colleagues from Lorand Eotvos University, Hungary used a test called “A Strange Situation” to evaluate the attachment of dogs and their owners. Usually, this test is used by psychologists to evaluate the relationship between a mother and her child. It is a kind of miniseries with several episodes where a mother and her child between the age of six months and two years old arrive at a playroom. A stranger enters and the mother leaves while the stranger plays with the child. Then the mother returns. The child is left completely alone, then the mother and stranger return together.

Children react in various ways, but securely attached infants use their mother as a base to explore the playroom. When their mother returns after a short absence, these children happily run to their mother and greet her with hugs and kisses.

Topal used the same test with owners and their dogs. He found that dogs were similar to children in that they explored and played more when their owners were in the room. Just as children showed searching behavior when their mothers left, dogs stood at the door when their owners left the room.

Upon the owners’ return, the dogs were more like the securely attached infants, seeking physical contact almost immediately with contented behavior like tail wagging. Topal concluded that the attachment of dogs to their owners is similar to the attachment of infants to their mothers.

In summary, dogs can read your gestures but they’ll never make rude gestures of their own. They can learn words like children but they can’t talk back. And they are as attached to you as a child, but are much, much cheaper. It isn’t hard to see which dependent is the logical choice.

Source: wsj

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