Ray Dalio: A lot of learning comes from having the same mistake over and over again until you learn it.
Richard Feloni: I notice that you had said that in 2016, when you had to move your chosen successor, Greg Jensen, out of a co-CEO role to be just co-CIO, that that was the biggest regret that you had had at Bridgewater.
And what I found interesting about that is that essentially the problem there, and correct me if I'm wrong, was that he had two jobs, running both the management and the investment side of things. But what I found interesting is that a decade prior to that you said that you had found that same problem for yourself in 2008. That you had two full-time jobs and that you couldn't do both. How did you not see that you were kind of passing on the same thing that you had gone through?
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