Ray Dalio On Pain, Reflection, and Progress at Harvard | Exploring Markets

Ray Dalio On Pain, Reflection, and Progress at Harvard

"Pain + reflection = progress."

What does Ray Dalio mean by that?

Dalio believes that your best lessons come from the biggest mistakes, and moments of most pain. You will never forget those moments. They are burned into you. Your next step, then, is to reflect and learn from those mistakes. They should not always be "bad" memories or moments. They should be instances of growth. A reminder of where you came from.

That's the best way to get better, healthier, and smarter. If you're an investor, this is also true. Your worst investments and trades are your best moments to learn about what NOT to do, and what you need to do to get better.