Part Two: Practicing The Science of Failing Well
Chapter Five: We Have Met the Enemy
âToday, Dalio credits this failure as a major cause of his subsequent extraordinary success, including his firmâs becoming the largest and most profitable hedge fund in history: âIn retrospect, that failure was one of the best things that ever happened to me. It gave me the humility I needed to balance my aggressiveness and shift [my] mindset from thinking, âIâm right,â to asking myself, âHow do I know Iâm right?ââ
How do I know I am right?
Itâs a powerful question. Failing well, perhaps even living well, requires us to become vigorously humble and curiousâa state that does not come naturally to adults.