Famed billionaire investor Ray Dalio is one of the richest people in the world, with a fortune of $ 20 billion, according to the Forbes index. The 72-year-old American, once the founder of Bridgewater Associates, the world’s largest hedge fund, gives some keys to success in the investment world.

1. Gold ahead of bitcoin

Dalio is a defender of bitcoin, but he is clear that when choosing between one and the other, he opts for gold. “If they put a gun to my head and said: ‘You can only have one’. I would choose gold,” he confesses. He advises that gold be considered, since it represents more security than cash, it also reduces risks since it is a safe investment.

“I have a very small amount of bitcoins. I am not a large owner. There are certain assets that you want to own to diversify the portfolio, and bitcoin is something of a digital gold,” said investor Ray Dalio in a past interview on the CNBC.

2. The low value of cash

The billionaire has always been blunt when it comes to valuing cash. “It is garbage, so do not keep your resources in cash,” he went on to say while advising investors to have a portfolio diversified by country, currency and asset class. “Cash is not a safe investment, it is not a safe place because it will be taxed by inflation,” he says.

3. The secret of meditation

“Transcendental meditation has probably been the single most important reason for my success,” he says. For Dalio, this practice will help you find peace and, therefore, rebuild trust and business. “Without a doubt, it is the best gift I can give to anyone,” he declares.

Dalio tells in his book Principles that he learned this practice after the Beatles studied transcendental meditation in India in 1968. “It helps to slow things down so that you can act calmly, even in the face of chaos, like a ninja in a street fight. “.

4. Errors, a step towards success

The well-known investor considers that having failures means that the investment is progressing. In this sense, for Dalio the process must be as follows: fail, learn and advance. In addition, he is convinced that it is essential to be brave in bearish times and to remain stable when better times come.