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.
Dalio also mentioned Will Durant’s 15 volumes of history (The Story of Civilization) which coverover the last 5,000 years. Dalio described him as possibly the greatest historian of all time.
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.