The subsequent is a transcript of the video.
Ray Dalio: A full whole lot of locating out arrives from obtaining the actual error about and in extra of still yet again until you uncover it.
Richard Feloni: I recognize that you expert explained that in 2016, when you expert to go your chosen successor, Greg Jensen, out of a co-CEO component to be just co-CIO, that that was the most essential regret that you had expert at Bridgewater.
And what I recognized interest-grabbing about that is that mainly the dilemma there, and right me if I am incorrect, was that he had two careers, working equally the administration and the monetary dedication side of issues. But what I observed interest-grabbing is that a 10 many years prior to that you explained that you had situated that very same dilemma for by on your own in 2008. That you expert two whole-time positions and that you could not do the two equally. How did you not see that you ended up variety of passing on the very same component that you expert lengthy gone by way of?
Dalio: Extremely initial of all, I would say a massive quantity of comprehending arrives from owning the very similar blunder extra than and more than after extra, and ideal up until eventually you discover out it. So, in my selected situation, you know, the enterprise grew up significantly less than me, and there I was, and I was dealing with far also a lot of factors, and I was finding by, and I was figuring out how to get these factors by, but not adequately. And then I figured, Okay, now which is my situation, my issue, and I need to pass along the two my predicament and my conditions to him, and we have to have to test out to ascertain out how to present with that with just about every other.
But, in other phrases and phrases, I can not not pass it collectively, and on the other hand we you need to not have a treatment on the other hand, and so we will try to present with that collectively.
And that is the route that we went down, and we recognized out that we could not do that collectively mostly for the reason that it was just as very well a whole lot for him, way also substantially for me.
So I guess I would say, you know, you wide range a concept, and the notion would not execute, and then you check all more than yet again, and you kind one particular extra notion, and that is component of the learning procedure.