The culture at Ray Dalio’s hedge fund Bridgewater got a lot of attention yesterday for its unorthodox nature.The fund has allegedly asked an applicant to supply his dental records, for example, and the fund runs on 245 Principles that centre around a common theme: the ego. Once someone is hired, Bridgewater tries to wean him or her off their egos.
Yesterday Dalio explained why it’s important on CNBC: “The biggest impediment to improving is being scared of making mistakes because of our ego.”
Now, it may just be a rumour, but we recently heard something that makes us question what exactly Dalio means when he says that the biggest impediments to success have to do with the ego.
The (unfounded) rumour: Ray Dalio’s son used to walk around town with a parrot on his shoulder.
(Dalio lives in Greenwich, CT.)
Let’s assume that the rumour is false and just move on to the question it brings up: Is someone walking around with a parrot on their shoulder the epitome of the ego-less person who doesn’t shive a ghit what other people think? Or is he showing off that he doesn’t care and thus is egotistical?
(The guy in the red shirt at the right, not Dalio, suggests the latter. Another man suggests the former.)
Ray Dalio’s “Principles” unfortunately, don’t hold the answer. So weigh in below.