Cover of Principles by Ray Dalio - Business and Economics Book

From "Principles"

Author: Ray Dalio
Publisher: Simon and Schuster
Year: 2017
Category: Business & Economics

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Chapter 1: My Call to Adventure: 1949–1967
Key Insight 1 from this chapter

Early Life, Family Dynamics, and Personal Traits

Key Insight

Born in 1949 on Long Island, the subject, an only son of a jazz musician and a stay-at-home mother, was an ordinary kid and a struggling student. His inherent weaknesses included a poor rote memory, making it hard to retain facts without logical reasons, and an aversion to following instructions. Conversely, he possessed a strong, albeit less obvious at the time, curiosity and a drive to understand things independently. His dislike for school stemmed from its memorization requirements and his disinterest in perceived important subjects, finding little motivation beyond his mother's approval for good grades.

His mother deeply adored him and worried about his academic performance, unsuccessfully urging him to study before playing. She was a constant supportive presence, helping with his newspaper route and sharing horror movies. Her death when he was nineteen caused profound grief. His father, a professional jazz musician working late nights, had a distant early relationship, frequently nagging about disliked chores such as lawn mowing and hedge cutting. An example highlights this: told to cut the grass, he only did the front yard; subsequent rain led to the backyard needing a sickle, and by the time it was done, the front was overgrown again.

After his mother's passing, his relationship with his father grew significantly closer, particularly once he started his own family. He admired his father's strong character, shaped by the Great Depression and service in both World War II and the Korean War, exemplified by his resilience, like clearing snowstorms in his seventies. His father, after a career in music, began teaching in his mid-sixties, continuing until a heart attack at eighty-one, remaining mentally sharp for another decade. Despite resisting home chores, the subject eagerly pursued various paid jobs from age eight, including a newspaper route, snow shoveling, caddying, bussing tables, washing dishes, and stocking shelves. These early independent work experiences instilled valuable lessons not acquired through schooling or leisure.

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