Page 38 - Ray Dalio - Principles

knowledge of the way markets functioned worked to our
mutual advantage, while making the markets more efficient
overall. My ability to visualize these complex machines gave

us a competitive edge against those who were shooting from
the hip, and eventually changed the way these industries
operated. And, as always, it was a kick to be working with
people I liked.

On March 26, 1978, my wife gave birth to our first son,
Devon. To have a child was the most difficult decision I ever
made, because I couldn’t know what the experience would be

like and it would be irrevocable. It turned out to be my best
decision. While I won’t delve too much into my family life in
this book, I pursued it with the same sort of intensity with
which I pursued my career, and I linked them. To give you an
idea about how interwoven they were in my mind, Devon was
named after one of the oldest breeds of cattle known to man,
among the first breeds imported into the U.S. and renowned

for its high fertility.

2 His inability to meet his obligations, especially his margin calls at brokerage
houses, could have led to cascading defaults.