Ray Dalio is the CEO of Bridgewater Associates. Bridgewater is the largest hedge fund in the US, with over $75 billion under management. In an interview from 3/6/2012, Dalio was asked what his favorite books were. Below is the short list:
The Lessons of History, by Will Durant, which Dalio mentioned is only 104 pages.
History is a vital part of investing. We bring you the following quote regarding history and investing:
“In the fall of 1974 I was in graduate school at USC taking a portfolio-management investment course. The financial markets were in difficulty, and I didn’t understand how securities were being sold at such depressed levels. I had only recently discovered Security Analysis by Graham and Dodd when we had a guest lecturer come in named Charlie Munger, who went on about this idea of value investing. After the class was over, I walked up to Charlie and asked him if there was one thing that I could do that would make me a better investment professional. His answer was, ‘Read history, read history, read history.’ Robert Rodriguez, CEO, of FPA
Also check out, The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds,where Dalio gave Maneet Ahuja exclusive access for a rare interview and profile of himself.