Diddy interviewing Ray Dalio

You want to be radically open minded but still assertive. Demand others tell you what they think and argue against your opinions, but listen to what they say.

If you want to achieve great things, you need to leverage the ability of others.

You should write down the things you’re not good at – for instance – you might be creative but not reliable – then get others to work for you that are better than you at those things.

It is a blast working with people that operate at a level of excellence.

Basically Dalio’s saying optimize delegation and don’t waste your time doing things where you don’t have a comparative advantage.

He’s saying you need goals. Then you identify the problems in your way. You must identify the root cause of these problems, it might be a weakness you have. Then you design something you need to do. (e.g.)

For me, it’s conscientiousness. Being focused and organised etc. The solution to this is a coach to help me. The action is for me to find a coach.

jack bogle on investing

most peeps in investing are not after the interests of investors but themselves

buy and hold a traditional index fund. we’ve worked out that we’ve never sold a share and benefited from it.

For the future 60% total stock market fund, 40% total bond market

there are known risks and unknown risks. both are real however if there’s a nuclear war it won’t matter if your stocks are down 90%. Further if you don’t invest for retirement, you rae guaranteed 0, and holding cash isn’t any safer. So, you have to accept we live in a fragile world and do the best you can hoping that those things don’t happen.

I told an airline pilot to put a lot of money in each month and put more in when possible and not look at it once until you retire. When you retire you better have a cardiologist because you’re going to have so much money….