Exploring Markets (My Very Old Blog)

We love reading words and wisdoms from builders, investors, and creators in tech and financial markets. Today's post, we quickly want to highlight something we found from Ray Dalio.  These are his favorite quotes from Presidents George Washington and Abe Lincoln.  You can read the full text using the link at the bottom of this post. Let's begin: Ray Dalio's Favorite Abe Lincoln Quotes "Determine that the thing can and shall be done, and then we shall find the way." "The probability that we may fall in the struggle ought not to deter us from the support of a cause we believe to be just; it shall not deter me." "Always keep in mind that your own resolution to succeed is more important than any other thing." "My greatest concern is not whether you have failed but whether you are content with your failure." "The true rule, in determining to embrace, or reject any thing, is not whether it has any evil in it; but whether it has more of...

Before Ray Dalio built the world's largest hedge fund, he was about 30 years old, and he had lost everything on one bad investment.  He tried to bet against markets. He tried to predict a crash after a sweeping banking crisis. But the crash never happened. At the time, he had 8 people working for him. He had to let them all go. He lost money for himself and his clients. It was so bad he had to borrow $4,000 from his dad. Why are we sharing this? Because everyone loses at some point. The only difference is who learns from the mistakes and never repeats them.

Yes, Charlie Munger is invested in China. Just listen to this: Here's how Munger feels about politics: Here's how Charlie Munger feels about healthcare in the US:

If you missed it, we got you covered. This video is 7 hours long, and it's packed with wisdom, wit, and investing insights from Warren Buffett and Charlie Munger. This is their ENTIRE 2017 annual shareholder meeting on video. Kick back, press play, and let a friend know you're watching:

Warren Buffett is a great investor because of his timeframe. Buffett understands that it takes time, smart management, and clear goals to build something great. He also believes that there's nothing worse than having short-term goals that are detached from reality. Buffett believes that quarterly earnings reports cause that to happen. Now he's speaking out against it. Here's the entire interview about earnings, short-term goals, and what he believes in:

"Pain + reflection = progress." What does Ray Dalio mean by that? Dalio believes that your best lessons come from the biggest mistakes, and moments of most pain. You will never forget those moments. They are burned into you. Your next step, then, is to reflect and learn from those mistakes. They should not always be "bad" memories or moments. They should be instances of growth. A reminder of where you came from. That's the best way to get better, healthier, and smarter. If you're an investor, this is also true. Your worst investments and trades are your best moments to learn about what NOT to do, and what you need to do to get better.