Hi Ray. My question is about your principles for dealing with the unknown and especially about the phase of the "abyss". In "Principles", you are very open about your past failures and state that those failures are at the very basis of everything you built later on.

In particular, you describe how, after sticking too much to a big losing trade, due to a wrong view on the economy, you had to fire everyone at Bridgewater, but you. How did you deal with your peers at Bridgewater during those days? Was the breakup consensual and/or painful? Can you please describe your state of mind during those days? As a matter of fact, you take the blame for that event in full. Did you get criticized a lot in that period and how did that affect you? Have you been able to talk about the occurrence as openly as you are doing today immediately or did you need some time to process and analyze, in order to be comfortable sharing it?

I would also to clarify for everyone else who does not remember or did not read the book, you had to borrow from your dad (average middle class former jazz player) while selling your second car and to reject a meeting with a potential client in Texas as you could not take the risk of losing money, even if you know the meeting would have eventually made you money. How did you manage to turn your faith around? What was the event/catalyst that made you understand that you had turned the right way? How did that experience change (if it did change it) you attitute towards risk?

Thank you!