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Part Two: Practicing The Science of Failing Well

Chapter Five: We Have Met the Enemy

“Today, Dalio credits this failure as a major cause of his subsequent extraordinary success, including his firm’s becoming the largest and most profitable hedge fund in history: “In 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, ‘I’m right,’ to asking myself, ‘How do I know I’m right?’”

How do I know I am right?

It’s a powerful question. Failing well, perhaps even living well, requires us to become vigorously humble and curious—a state that does not come naturally to adults.