# @raydalio on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/DQKE9W5gLhc
- **Gondola URL:** https://gondola.cc/posts/65335642-raydalio-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/387e8d4e94.jpg
- **Posted:** 2025-10-23T15:53:11.000+00:00
- **Account Owner:** Ray Dalio (@RayDalio) — https://gondola.cc/RayDalio

## Caption

In the late 1970’s, I calculated that we were going to have a global debt default. I was so confident in what that meant for the markets that I went to Congress to share my perspective.

I couldn’t have been more wrong. While several countries defaulted on their debt, the impact on markets was the opposite of what I expected.

And I lost a lot of money — for me and for my clients. I had to let all of my employees go.

But it was the best experience that ever happened to me because it taught me that pain + reflection = progress.

And it taught me three lessons that became the foundation of Bridgewater’s success.

1) It gave me humility — the fear of being wrong was so strong that I had to always ask, “How do I know I’m right?”

2) It taught me the power of diversification — and how 15 good, uncorrelated return streams could lower risk by 80% without impacting returns

3) I realized I wanted an idea meritocracy

## Stats

- **Views:** 20,984
- **Likes:** 1,683
- **Shares:** 0
- **Comments:** 25

## Credits

These are the roles credited on Gondola. Credits may be incomplete.
A brand, account owner, or featured person is not necessarily the creator.

| Name | Username | Profile | Role |
| --- | --- | --- | --- |
| Ray Dalio | @RayDalio | https://gondola.cc/RayDalio | Client |
| Julian Smith | @byjuliansmith | https://gondola.cc/byjuliansmith | Graphic Designer |
| Julian Smith | @byjuliansmith | https://gondola.cc/byjuliansmith | Video Editor |

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