Principles by Ray Dalio

founder of  Bridgewater Associates

the first person worked on commodity futures from HBS, so after graduation he was the top talent to hire in the industry as stock economy unraveled while commodities market is soaring. 

his goal is to have meaning work and meaningful relationships. 

what i want: break dependencies on money, having caring family

what is true: ?

what you should do to achieve #1 in light of #2

what r u going to do about it?

1979-1982, Bridgewater is back to square one, the company lost so much money. He identified 3 fundamental problems: 1) I was arrogant 2) history repeats and understanding events are important to predict futures 3) You can't estimate exact time to market. Also he found several principles: 1) seek the smartest person who disagree with me, try to understand their reasoning 2) develop/test/systemize timeless and universal principles 3) balance risks keep the big upside while reducing the downside

1983-1994

P44, invented a new way to show profit: core business, speculative profits and losses. This way a client can understand what a risk-neutral position is. sometimes a client can speculate more intentionally

beta: return of the market, passive, 
alpha: return comes form betting against others, active 

역전하는 법, 빌 퍼킨스

이책은 상당히 흥미로운 시각을 선사한다. 인생의 가장 중요한 것은 경험이며, 적당한 때에 적당한 돈을 투자하여 유익한 경험을 많이 하는 것에 포커스를 맞춰야 한다는 필자의 이야기이다. 

예로, 돈을 모으는 것에만 집중하여, 가족, 친구와의 소중한 추억 쌓기를 게을리한다면, 나이들어 충분한 돈이 있다 한들, 좋은 경험을 쌓지 못한다면 그 무슨 소용인가가 핵심 논리. 

젊었을때 배낭여행, 자녀가 어릴때 떠나는 여행들은 그 때가 아니면 하지 못하는 것들. 

p31, 추억을 연금처럼 받게 된다.

SEWU Jun 25

 

• chronically : Chronic diseases are usually bad in the way they require longer time to fix. You need to live with them for the rest of your life. Therefore, You need to be careful if your family has genetic chronic diseases like asthma, diabetes and cancer.

• unfold : It was a kind of mixed felling when i decided to move Canada. I was afraid since i didn't know anything about the life there. at the same time I was excited about new life will be unfolded.

• sweep: my wife can make a sweeping judgement on how much alcohol i drink at today's meeting. How that is possible ??

• inference : When i visited the Home depot today, I noticed that lots of fan are already sold out. not many left. Therefore, I could infer that weather was going to be hotter this weekend.

SEWU Jun 15

 that's it : I just want to comment one more thing. I think your design looks good and it'll work as expected. But it is kind of bold approach, we need to change a lot of existing logic, which is little bit risky. that's it.

that's not it : Do you remember the place we met last summer? Was her name Rachel? that's not it. It's Pibi.

It's not that : Are you saying that i should be cancel the appointment then? No it's not that.

It's not like that: My son taught me how to solve Rubiks cube. there are 5 rules to memorize. but it's hard to remember. whenever i'm confused, i ask help to my son. is this direction correct? then my son said. it's not like that.

SEWU Jun 8

Make an example sentences with the words

-go about one’s day. : After my mother passed away, I took a while to go about my day.

-receive a look (receive looks): oneday when i get outside to meet my friend, I received a lot of looks from people. usually it's the quite opposite. It turns out that There is a bird pooh on my head.

-say to one’s face: People usually don't want to say something bad to one's face.

-heckle :

-go out of one’s way : when i play tennis, i always try to go out my way to make my son feel fun about it.

Answer the questions.

1..If you can move to another country, which would it be? and why?

2.What do you like about Korean culture?

3.If you could change one thing about your culture, what would it be?

There is a proverb " if one of a cousin buy a land, you"

4.Have you ever been in a situation where you felt you had to "do as the Romans do"?

SEWU May 18

 

• relinquish : There are so many things to do in your life or work. You have to prioritize tasks based on the impact or importance. Otherwise you end up completing less important tasks. you have to relinquish less important tasks. 

• make someone do sth: If you want to up your career ladder quickly. you must know how to delegate work to someone else in your team. you should know how to motivate them and make them work for you and themselves. 

• let someone do sth: one of the issue to assign a task to employee is tricky. we needed someone to distribute tasks. it required a lot of interaction between people. it didn't work well. Instead we just create a lot of potential tasks into issue tracking system. just let them choose their next task. it's been working pretty well since then.

• get someone to do sth: if someone ask to me what's the hardest to thing to do? then i would answer. it's get my son to do something that i want him to do.

1. Do you think it's good to make friends online?
   I think it’s good to have. Why not? but it definitely has a different purpose compared to conventional friends. They usually get to know each other for a specific purpose. For example, if you want to join a specific study club online. All these friends have the same purpose. They don’t usually talk about private things much like real friends. I think that is a big difference. but it makes you expand your life boundary much larger. but the depth is less.

2. What are the disadvantages of social networking apps? it literally gets rid of my spare time pretty easily. Once I start using SNS app, time flies. If i review my SNS activities objectively, There are nothing useful scenarios.

3. Why do you use social networking apps? just want to consume latest news/article or something. or find information from the internet. that's it.

4. How often do you use social networking applications? My phone has an ability to track how i use the phone. it shows time spent for each app and each category. for me, it's around 1 hour per day. I must get rid of this time.

SEWU - May 11

sit out

Every mother has instincts to protect their child. my wife is same. Whenever my son try to do some modestly risky action,  my wife interrupts and tried to stop it. just because it's little dangerous not much. I think it prevents my son from learning lessons from them. So I always talks to my wife. please give him an opportunity to fail. My wife should learn how to sit things out.

sit well(right) with

At previous get-together, They gave us a present. since it's kind of regular get-together between us. I can't sit well with me. I had to prepare something.

I don't mind + ing/I feel uncomfortable + ing/It doesn't bother me

Whenever I take the elevator in my apartment, if it's already occupied by someone. then i would say do you mind if i join here. 

1. Describe a natural talent(sports, music, etc) you want to improve.

You should say:

 -What it is

 -When you discovered it

 -How you want to improve it

 -And how you feel about it

I realized i'm good at controlling circular object to the desired position. something like 구슬치기, billiard. It ususally requires the right amount of speed and angle.

Also I have a pretty decent concentration ability. once i concentrate, I hardly know if someone talks to me.

2. Is it possible for us to know whether children who are 3 or 4 years old will become musicians and painters when they grow up?

I don't think so.

3. Do you think it is more interesting to watch famous people’s or ordinary people’s shows?