No one is exempt from this process. Having it go well depends on people's abilities to make frank assessments of strengths and weaknesses (most importantly weaknesses). While it's generally as difficult for managers to give this feedback as it is for their subordinates to hear it, in the long run it makes people happier and the organization more successful. #principleoftheday

Happy World Ocean Day and welcome to the OceanXplorer! We're heading to the UN Ocean Conference in France where world leaders, explorers, and scientists are gathering to protect the oceans and better understand them through exploration. The ocean is our biggest, most important asset, accounting for 72% of the Earth’s surface--so more than twice as much as all continents combined. It is incredibly interesting, valuable, and almost totally ignored. And if you're excited about the ocean, you can watch our series OceanXplorers on @hulu and @disneyplus. I think you'll enjoy it. #WorldOceanDay @OceanX

Make sure they're fully informed and believable. Find out who is responsible for whatever you are seeking to understand and then ask them. Listening to uninformed people is worse than having no answers at all. #principleoftheday

Like a doctor watching the human lifecycle, one can see and measure the progression and the risks to see and track the Big Cycle that progresses from the breaking down of one order through the emergence and evolving of next order. To understand and measure these cycles, I did a study which I shared as a book and a video titled Principles for Dealing with the Changing World Order. #principleoftheday

Remember that one man’s debts are another man’s assets. That means if you both weaken a currency and produce more of it, the value of that currency decreases. This tradeoff is particularly challenging when a country has a large debt burden, like the U.S. today. In my new book, How Countries Go Broke: The Big Cycle, I outline a plan for how we can navigate this tricky situation. You can find it available to order here: amzn.to/4kkZJV4 #principles #raydalio #economics #debt

Throughout history only a very few well-disciplined countries have avoided them. That is because lending is never done perfectly relative to the incomes that are needed to service them and it is often done badly because people always want more which credit that turns into debt gives them until the debt gets the beyond that which is sustainable which leads to the need to bring the debt burdens down that typically leads to a mixture of debt defaults/restructurings and the creating of money and credit leading to a debt crisis to occur at which time there will be debt defaults to how the cycle affects people’s psychology to produce bubbles and busts. For a picture of where we are headed and what we should do, you can order my new book, How Countries Go Broke: The Big Cycle, here: amzn.to/4kkZJV4 #howcountriesgobroke #principles

If I had to pick the most important chapter from my new book, How Countries Go Broke: The Big Cycle, this would be it.  Because once you understand the big cycle and how it works, watching events unfold is like watching a movie that you have seen many times before. You learn more about what it means for all of us in chapter 8 of my book, available for wherever books and audiobooks are sold. #principles #raydalio #howcountriesgobroke #economics #history @SimonAudio

Here’s a peek into the audio recording of my new book, How Countries Go Broke: The Big Cycle. This new book explains what I've learned about the mechanics behind big debt cycles and debt crises, and how they help drive the Overall Big Cycle, which is especially important to understanding what is happening today. I hope that you find it helpful in navigating the interesting times ahead. If you're an audiobook listener and are interested in the book, it's now available to order here: amzn.to/4kkZJV4 #howcountriesgobroke #principles @SimonAudio

Today is the launch day for my new book, How Countries Go Broke: The Big Cycle. I wrote this book because I believe now is a critical time when it comes to the global debt burden. I’ve spent a lot of time over the last 50 years as a global macro investor finding the indicators of debt problems, and I want to pass along what I’ve learned so that policymakers and individuals can try to deal with our current situation well. Through studying history, I’ve come to realize that everything happens due to cause-effect relationships that can be studied and understood. So reality works like a perpetual motion machine that began an eternity ago and will take us into the future. That perspective has driven my approach to life which has led to whatever success I have had. And I hope it will help others better understand how we got where we are, and what we need to do next to avoid bad outcomes for everyone. Our current debt situation has implications for almost all markets and economies. So if you’re interested in learning more, I hope you’ll give it a read — and I’m excited to continue exchanging ideas about this with you on social media. You can find a link to order the book in the comments below.And as always, I welcome your thoughts. #principles #debt #Economics #History

Order my new book here: amzn.to/4kkZJV4

Change is coming. The current debt levels in the U.S. and around the world are unsustainable. To avoid bad geopolitical outcomes, we must negotiate in a calm, analytical way to get this debt to money problem under control. Learn more how the big debt cycle works and my proposed solutions in my new book, How Countries Go Broke: The Big Cycle, available to order here: amzn.to/4iOblP1 #principles #raydalio #economics #debt

They have been shown to both destroy empires and provide great investment opportunities for investors if they understand how they work and have good principles for navigating them well. For a picture of where we are headed and what we should do, you can order my new book, How Countries Go Broke: The Big Cycle, here: amzn.to/4kkZJV4 #howcountriesgobroke #principles

As a professional decision maker, I have spent my life studying how to make decisions effectively and have constantly looked for rules and systems that will improve my odds of being right and ending up with more of whatever it is that I am after. One of the most important things I've come to understand is that most of the processes that go into everyday decision making are subconscious and more complex than is widely understood. For example, think about how you choose and maintain a safe distance behind the car in front of you when you are driving. Now describe the process in enough detail that someone who has never driven a car before can do it as well as you can, or so that it can be programmed into the computer that controls an autonomous car. I bet you can't. Now think about the challenge of making all of your decisions well, in a systematic, repeatable way, and then being able to describe the processes so clearly and precisely that anyone else can make the same quality decisions under the same circumstances. That is what I aspire to do and have found to be invaluable, even when highly imperfect. While there is no one best way to make decisions, there are some universal rules for good decision making. #principleoftheday

Personality assessments are valuable tools for getting a quick picture of what people are like in terms of their abilities, preferences, and style. They are often more objective and reliable than interviews. #principleoftheday

If you don't mind being wrong on the way to being right you'll learn a lot--and increase your effectiveness. But if you can't tolerate being wrong, you won't grow, you'll make yourself and everyone around you miserable, and your work environment will be marked by petty backbiting and malevolent barbs rather than by a healthy, honest search for truth. You must not let your need to be right be more important than your need to find out what's true. Jeff Bezos described it well when he said, "You have to have a willingness to repeatedly fail. If you don't have a willingness to fail, you're going to have to be very careful not to invent. #principleoftheday

The seeds of every great empire’s inevitable decline are embedded within the fruits of its successes. A predictable cycle of borrowing and spending occurs that boosts a great power’s spending power over the short-term and makes it appear very strong. But its finances are in fact being weakened. #principles #RayDalio #History #empire

This is especially true over short periods of time like a year or two, yet most people want to assume that when someone does something wrong the person will learn the lesson and change. That's naive. It is best to assume that they won't change unless there is good evidence to the contrary that they will. It's better to bet on changes you have seen than those you hope for. #principleoftheday

Five big forces produce the overall Big Cycle that leads to radical changes in monetary, domestic, and/or world orders. To learn more about where we are at in the Big Cycle, check out my new book, How Countries Go Broke: The Big Cycle here: amzn.to/4kkZJV4 #raydalio #principles #politics #Economics