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I have respect for successful managers like Dalio and Soros because you can’t reach their level of success while deluding yourself about how the world economy w
by kaycebasques 8y ago
I have respect for successful managers like Dalio and Soros because you can’t reach their level of success while deluding yourself about how the world economy works. And anyone who has invested/speculated with a lot of their own money knows how emotionally hard it is to make the right decisions day in and day out. For that reason, when Dalio talks about the economy, it’s worth considering what he’s saying. Moreso than politicians or economists.
- JohnWilcox 8y agoI guess a prayer at the demonic altar of Soros could get your startup funded. It can't hurt, can it. Soros along with all the tech tyrants that have been emerging from hades itself are all disassembling and deconstructing the whole basis of the civilized world and the most core concepts of self-governance, freedom of speech, freedom from tyranny, and the most fundamental and core, basic concepts and necessities for any form of democracy, let alone the middle class; yet you laud Soros? But I guess as long as you see yourself benefitting from the plunder and pillaging, you will support such depravity and degeneracy.
- njepa 8y agoI have stumbled upon a number of these types of texts recently and while I think it is generally a good thing I can't help noticing that they are quite... basic. Most of his concerns have been solved by mixed market economies, that overall deliver superior results. But even that discussion is probably a couple of decades too late.
- objektif 8y agoSorry which points of his are basic and which oone are solved?
- drjesusphd 8y agoAnother way to look at it... With thousands of people playing the game, some are bound to be the luckiest. It doesn't necessarily mean they have more insight.
- objektif 8y agoIf you are in the industry you will realize that it is extremely difficult to be consistently right. His success is not attributable to pure luck only.
- sdenton4 8y agoIf you have enough people guessing coin flips, one of them will be consistently right... and then claim credit for how difficult it was. Just look at all the people who failed! Taleb is big on this idea applying widely in the finance sphere.
- Chetane 8y agoFor what it's worth, Taleb called Ray Dalio a "legendary investor" in his book antifragile.
- objektif 8y agoThat is really not the case here. Look at Jim Simmons for example. And also Taleb is a brat who thinks he is the greatest investor ever to live just because he knows what martingale is.
- chalst 8y agoI'll put Soros down as one of the traders who definitely did have a lot of insight.