Last night Ray Dalio of Bridgewater, a hedge fund managing roughly $170 billion, was asked if he was stepping back. He clarified what he meant, stating that he will take a lesser managerial role. However, when it comes to being involved in the markets, here was his response:
“I’m an addict, I can’t stop. I love the game.”
Ray Dalio didn’t get to where he was by going half speed. Being the best at what you do, whether its managing money, practicing law or being an athlete, requires giving everything you have.
Here is an excerpt from The Money Game
The irony is that this is a money game and the way we keep score. But the real object of the game is not money, it is the playing of the Game itself. For the players, you could take all the trophies away and substitute plastic bread or whale’s teeth; as long as there is away to keep score, they will play.
You don’t need to have a big ego to be a successful investor and in fact, you’re probably better off if you don’t. However, being the most successful investor almost requires you to be an egomaniac. It’s not about money, it’s about winning and money is just the way to keep score.