Wall Street is generally viewed as an elitist group of individuals with rich parents and far-reaching connections. And while that is often true, there are many Wall Street moguls that didn't come from such backgrounds.
One of these Wall Street legends is Ray Dalio. Ray Dalio was born to a middle-class family in Queens, New York and he worked his way to the top by himself. As a kid, he moved laws and shoveled snow to earn money which he then invested into the stock market at age 12. As he grew older, he learned how to read balance sheets, minimize risk, and go against the herd mentality.
Ray says that the key to his success was breaking down the ego barrier and embracing radical transparency. This ensured that he didn't make bad decisions simply because of his arrogance or ego.
Today, this has allowed Ray Dalio to build the largest hedge fund in the world Bridgewater Associates who manages a whopping $150 billion. This video explains the story of Ray Dalio and how Ray Dalio built Bridgewater Associates.
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