Ray Dalio: The principles that made me a billionaire

0:00You want to be successful?

0:01Here's the mantra for investing.

0:03I got my pen.

0:04The most fundamental question is: how do I have the upside without having the downside?

0:09That approach was the basis of Bridgewater going from having to borrow $4,000 from my dad to the largest hedge fund, most successful hedge fund in the world.

0:18I created personality tests.

0:20I gave it to Elon Musk.

0:21I gave it to Bill Gates.

0:23I gave it to Reed Hastings.

0:25Maybe I should probably not tell stories, but...

0:27No, no, no.

0:28That's what we do here.

0:29You don't have to make it to the top to be happy.

0:30What's the top?

0:31There's no correlation between the level of happiness in your life and the amount of money that you make.

0:36So you have to have a purpose.

0:38What do you want to do with the money that is so important?

0:41You better answer that question.

0:43I feel like I can rule the world.

0:45I know I could be what I want to.

0:48I put my all in it like my days off.

0:50On the road, let's travel to the middle.

0:52You were, in some regard, a little bit of a late bloomer in terms of like traditional metrics of success.

0:57Oh, yeah.

0:58I think you were 34, 35.

0:59You had like two kids, I think.