Ray Dalio famously founded Bridgewater Associates out of his two-bedroom apartment in 1975.
Since then, he has amassed a net worth of $17 billion while building Bridgewater into the world’s largest hedge fund, which now manages roughly $150 billion in assets.
When other people ask him about the secret of his success, he suggests that Bridgewater is a good example of meritocracy, a system in which people are chosen and moved into positions of power based on their demonstrated abilities and merit.
In this video, Dalio shares his secret of how to build such a team and achieve great success. He suggests all investors should do three things.
Source: Finance Jane