All that tells him is you know nothing about risk management.
Dalio is an outdoorsman and naturalist of the Hemingway school: he likes to go places and kill things. He fishes in Canada, shoots grouse in Scotland, and hunts big game in Africa, with a bow—particularly Cape buffalo, which weigh up to two thousand pounds, are famously ornery, and sometimes gore hunters with their giant horns. Naturally, Dalio sees this as a metaphor for how he invests. “It’s always a matter of controlling risk,” he explained. “Risky things are not in themselves risky if you understand them and control them. If you do it randomly and you are sloppy about it, it can be very risky.” The key to success, he said, is figuring out “Where is the edge? And how do I stay the right distance from the edge?
Other activities not risky in themselves that Ray would have zero reservations about participating in: parasailing in shark-infested waters, using beehives as a speed bag, drag racing in a Prius, and hitting on the wife of an ex-con who just did a dime for choking out a man for *thinking* about looking at her. Anything else you shitty risk managers can think of? Try him.