💡📌 Key Tips (核心總結)
Tip 1: Redefining Success.
He defines a truly successful and happy life as having meaningful work and meaningful relationships—doing work you are thrilled by with people you care about.
Tip 2: Embracing Painful Mistakes.
You must learn from your encounters with reality, especially your failures, pain + reflection = progress
Tip 3: Discovering Your Nature.
He frames life as a journey of discovery where the ultimate goal is to understand your own unique nature so you can find the specific path and principles that suit you best.
Tip 4: Two important things.
He also mentioned two things that helped him through the challenges: meditation and calmly reflecting on how reality works to get and write down the best principles for dealing with realities.
瑞·達利歐在長島大學畢業演講全文2026
Thank you President Klein, Thank you Dean Bates, Dean Polaro. Congratulations to the class of 2026.
感謝克萊因校長，感謝貝茨院長，波拉羅院長。祝賀2026屆的畢業生們。
Congratulations also to all the parents, the grandparents, the brothers, the sisters, and all of the family and friends who have been with the graduates through their journeys.
同樣也要祝賀所有的父母、祖父母、兄弟姐妹，以及在畢業生的旅程中一直陪伴著他們的所有家人和朋友們。
There is nothing more valuable than meaningful relationships. Please give each other an enthusiastic round of applause.
沒有什麼比有意義的人際關係更有價值的了。請給大家一個熱烈的掌聲。
I'm thrilled to be your commencement speaker because it's an opportunity for me to tell you who I view as myself 55 years ago.
很高興能成為你們的畢業典禮演講嘉賓，因為這給了我一個機會，向55年前的“我自己”（也就是你們）說幾句話。
What I've learned in the 55 years since I've graduated from LIU that, you know, hopefully will be of some help to you.
自從我從長島大學（LIU）畢業後的55年裡，我學到了一些東西，希望對你們能有所幫助。
While I remember being where you are when I was 21 years old, graduating in 1971 from what was then called CW Post College, I don't remember who the commencement speaker was or what he said.
雖然我還記得當我21歲，也就是1971年從當時的CW Post學院畢業時，我就坐在你們現在的位置上，但我不記得當時的演講嘉賓是誰，也不記得他說了什麼。
And I suspect that you won't remember that later in your lives.
我猜你們在以後的人生中也不會記得今天的演講。
But all I remember was nursing a hangover from celebrating the hard night before, and being elated at graduating, and reflecting on how hugely LIU had an impact on my life in improving my life.
但我唯一記得的，是前一天晚上瘋狂慶祝後留下的宿醉，是畢業帶來的興高采烈，以及回想長島大學對我的人生、對改善我的生活產生了多麼巨大的影響。
You see, I got into LIU on probation because I was a lousy high school student with a rebellious nature.
你們知道，我是帶著留校察看的條件進入長島大學的，因為我是一個糟糕的高中生，天生叛逆。
I remember hating high school because it seemed to me that most of my education consisted of teachers forcing me to memorize what they wanted me to remember, which included a lot of useless stuff.
我記得我很討厭高中，因為在我看來，我的大部分教育都是老師強迫我去背誦他們想讓我記住的東西，其中包含了很多無用的東西。
And it didn't help that I had a very bad rote memory.
而我極其糟糕的死記硬背能力更是雪上加霜。
At the same time, I loved playing markets, which is where my attentions went.
與此同時，我喜歡在市場上投資，這也是我注意力集中的地方。
I got hooked on playing markets when I was 12 while working as a caddy at the Links Golf Club which was not far from here.
我在12歲的時候就迷上了市場交易，那時我在離這裡不遠的林克斯高爾夫俱樂部當球僮。
The stock market was hot and the people I caddied for would walk around with me and we would talk about stocks.
當時股市很火熱，我服務的高爾夫球手們會和我一起散步，我們會談論股票。
So I took the money that I earned and I put it in the stock market.
所以我把我賺到的錢投進了股市。
The first stock I bought was the only stock I heard of that was selling for less than $5 a share.
我買的第一隻股票是我聽說過的唯一一隻售價低於每股5美元的股票。
I thought I could buy more shares so that if they went up I'd make more money, which was a dumb strategy.
我以為我可以買更多的份額，這樣如果它們上漲了，我就會賺更多的錢，這是一個很愚蠢的策略。
The company that I bought was about to go bankrupt but I got lucky. Another company acquired it. It tripled in value.
我買的那家公司當時瀕臨破產，但我運氣很好，另一家公司收購了它，它的價值翻了三倍。
I thought this game is easy and I became hooked on playing this investment game at 12.
我當時覺得這個遊戲很簡單，於是我在12歲時就迷上了這個投資遊戲。
So at the time when I came here I hated school and I loved playing markets, until I got into Post.
所以當我來到這裡的時候，我討厭學校，喜歡市場交易，直到我進入了Post學院。
I loved being here because I could take classes that interested me and engaged me in quality thinking and I did well, and so I went on to Harvard Business School, which was another eye-opening learning experience.
我喜歡在這裡，因為我可以上我感興趣的課，讓我參與高品質的思考，而且我成績很好，所以後來我去了哈佛商學院，那又是另一段令人大開眼界的學習經歷。
When I was 19 and a sophomore here, I learned something that I found even more powerful than my formal education.
當我19歲在這裡讀大二時，我學到了一種我覺得比正規教育更強大的東西。
The Beatles went to India to learn to meditate and they raved about it. So I learned to meditate, which has been invaluable to me.
披頭士樂隊去印度學習冥想，並且對它讚不絕口。所以我也學習了冥想，這對我來說是無價的。
Meditation gives you an equanimity, aligns your subconscious with your conscious mind, and it is also restful and healthy.
冥想帶給你平靜，讓你的潛意識與顯意識保持一致，而且它也讓人放鬆、有益健康。
It also gives you a sense of spirituality. What I mean by a sense of spirituality is connection to the whole. You have a sense of connection of where you are within the context of the whole.
它還賦予你一種靈性。我所說的靈性，是指與整體的連接。你會感覺到你在整體環境中所處位置的連接感。
So as a graduation gift to those of you who want it, I'm going to give you lessons in transcendental meditation. It is the most valuable gift that I can give anyone.
因此，作為一份畢業禮物送給那些想要它的人，我將為你們提供超覺靜坐的課程。這是我能給任何人的最寶貴的禮物。
Over my 55 years since graduating, I've learned a lot about how life works and how to deal with it in order to be successful, including what being successful really is.
在我畢業後的55年裡，我學到了很多關於生活如何運轉，以及如何應對它才能獲得成功的知識，包括到底什麼是真正的成功。
I learned that life is a journey of discovery in which the goal is to understand your own nature and find the right path to suit you, that there is nothing more important than having good principles to guide you.
我學到了：生活是一段探索的旅程，其目標是瞭解你自己的天性，並找到適合你的正確道路；沒有什麼比擁有良好的原則來指導你更重要的了。
By principles I mean ways of handling certain situations.
我所說的原則，是指處理特定情況的方法。
Over my lifetime I've accumulated hundreds of principles, which is far too many to cover in this 15 minutes that I have with you.
在我的一生中，我積累了數百條原則，要在我與你們共處的這15分鐘內涵蓋它們實在是太多了。
So I'm giving you also my book Principles: Life and Work, which I hope will help you find the right principles for you and to get what you want out of life.
所以我也把我的書《原則：生活和工作》送給你們，我希望它能幫助你們找到適合你們的原則，並從生活中得到你們想要的東西。
You can find it below your seat along with the card to sign up for the meditation.
你們可以在你們的座位下面找到它，還有一張報名參加冥想的卡片。
So it seems to me that you are about to travel along a similar life path, a similar arc in life to the one I've traveled on and most people travel on, experiencing the same phases and having many of the same encounters I had.
因此，在我看來，你們即將踏上一條相似的人生道路，一條我走過、大多數人也走過的相似人生軌跡，經歷相同的階段，遇到許多與我相同的遭遇。
So I want to tell you what to expect and give you some tips.
所以我想告訴你們未來會面臨什麼，並給你們一些建議。
Looking back on my and others' lives, I came to see that life unfolds in three big phases that are very different from each other.
回顧我自己和其他人的生活，我發現人生分為三個大階段，這三個階段彼此之間截然不同。
In the first phase, you are learning and you're dependent on others. In the second phase, you are working and others are dependent on you.
在第一階段，你處於學習狀態，依賴他人。在第二階段，你在工作，而別人依賴你。
And in the third phase, which is the phase where I am, you are free from obligations and able to pass along what you've learned.
在第三階段，也就是我現在所處的階段，你擺脫了義務，能夠把你學到的東西傳遞下去。
The second phase, which you are about to enter, is more opposite than similar to the first.
你們即將進入的第二階段，與其說是與第一階段相似，不如說是截然相反。
Rather than being in an education program and having instructors, you will guide yourself to achieve your goals.
你們不再是處於一個教育項目中並擁有導師，而是需要自我引導去實現你的目標。
And you will encounter thrilling opportunities and painful setbacks which, if you reflect on well, will teach you what you want, what you're like, and how to be successful.
你們會遇到激動人心的機遇和痛苦的挫折，如果你能很好地反思，它們會教會你想要什麼、你是什麼樣的人，以及如何獲得成功。
You will learn that thinking for yourself, making painful mistakes and learning from them, and knowing how to deal with what you don't know, is what is most valuable.
你們會學到，獨立思考、犯下痛苦的錯誤並從中學習，以及知道如何應對你所不知道的事情，才是最有價值的。
In the early part of this second phase, which will be about your next 10 years, the most important thing for you is to experiment and reflect well so that you discover your nature and what is the path that is best for you.
在這第二階段的早期，也就是你們接下來的10年左右，對你們來說最重要的是去嘗試和好好反思，以便發現你們的天性以及最適合你們的道路是什麼。
When entering this phase two, you are almost certainly making the mistake of thinking you know more than you actually know, especially if you got good grades in school.
當進入這第二階段時，你幾乎肯定會犯一個錯誤，那就是認為自己知道的比實際上知道的多，特別是如果你在學校成績很好的話。
You don't yet have a clue about what life is really like. And you don't yet know what being successful really means for you, let alone what to go after and how to get it.
你們對自己人生的真實模樣還毫無頭緒。你們也還不知道對你們來說，真正的成功意味著什麼，更不用說去追求什麼以及如何去獲得了。
You couldn't possibly know these things because you haven't yet experienced or thought about what you will encounter.
你們不可能知道這些事情，因為你們還沒有經歷過，也沒有思考過你們將會遇到什麼。
In the first phase, your teachers and parents typically led you to believe that success is a matter of learning what you were taught and not making mistakes, and you were taught to take pride in what you know.
在第一階段，你們的老師和父母通常會讓你們相信，成功就是學習別人教給你的東西，並且不犯錯誤，你們被教導要為自己所知道的東西感到自豪。
That probably made you a bit arrogant, like I was a bit arrogant when I graduated from here. But it is living life and encountering your realities that will teach you.
那可能會讓你們有點傲慢，就像我從這裡畢業時也有點傲慢一樣。但是，是生活本身和你與現實的遭遇將教會你。
The question is, will you learn well? My nature and encounters with realities led me to become a professional investor, which led me to start an investment firm out of my two-bedroom apartment.
問題在於，你能學好嗎？我的天性和我與現實的遭遇讓我成為了一名專業投資者，這也讓我在我的兩居室公寓裡創立了一家投資公司。
While I ran it for 50 years, built it into the largest hedge fund in the world, and then passed it along to the next generation, which many people consider a great success story, I know that it was learning from my painful mistakes that made me successful.
雖然後來我經營了它50年，把它打造成了世界上最大的對沖基金，然後又把它交給了下一代，這在很多人看來是一個偉大的成功故事，但我知道，是從我痛苦的錯誤中學習才讓我獲得了成功。
For example, when I was 34 years old and had run Bridgewater for eight years, I calculated that American banks had lent much more money to emerging countries than those countries were going to be able to pay back, and that that would lead to a great debt crisis... almost the largest since the Great Depression.
例如，當我34歲，已經經營了橋水基金8年時，我計算出美國銀行貸給新興國家的資金遠遠超過了這些國家能夠償還的能力，這將導致一場巨大的債務危機……幾乎是自大蕭條以來最大的一次。
And it was a very controversial view. But in August 1982, Mexico defaulted on its debt and a number of other countries followed, and we did have the greatest debt crisis since the Great Depression.
這是一個非常有爭議的觀點。但在1982年8月，墨西哥出現了債務違約，隨後其他一些國家也相繼違約，我們確實遭遇了自大蕭條以來最嚴重的債務危機。
Because I had anticipated that, I was asked to testify to Congress and appear on Wall Street Week, which was the show at the time.
因為我預料到了這一點，我被要求向國會作證，並出現在當時非常火的《華爾街週刊》節目中。
I thought the stock market would fall a lot, but I couldn't have been more wrong. The stock market and the economy went up rather than down.
我以為股市會大跌，但我大錯特錯了。股市和經濟不跌反升。
And I lost so much money for myself and my clients that I had to let almost everybody go. And I was so broke that I had to borrow $4,000 from my dad to help pay for my family bills.
我為自己和我的客戶賠了太多錢，以至於我不得不解僱幾乎所有人。我破產到了不得不向我父親借4000美元來支付家庭賬單的地步。
It was one of the most painful experiences of my life, but it turned out to be one of the most valuable experiences of my life because it gave me the humility I needed to balance with my audacity.
那是我一生中最痛苦的經歷之一，但事實證明，那也是我一生中最有價值的經歷之一，因為它給了我所需的謙遜，來平衡我的膽大妄為。
Rather than thinking "I'm right," I thought about "How do I know I'm right?" and "How do I find that out?"
我不再想“我是對的”，而是開始思考“我怎麼知道我是對的？”以及“我該如何找出答案？”
That led me to find the smartest people who would disagree with me to understand their perspectives and have my own perspectives stress-tested.
這促使我去尋找最聰明的人，他們會不同意我的觀點，從而去理解他們的視角，並讓我的觀點接受壓力測試。
It also led me to understand diversification, how I could reduce my risks without reducing my returns.
這也讓我理解了多元化投資，即我如何能在不降低回報的情況下降低風險。
In other words, I learned from that... from that point on, my company Bridgewater did very well, and it did well because what I learned I never would have learned without that painful mistake.
換句話說，我從那裡學到了……從那時起，我的公司橋水基金做得非常好，之所以做得好，是因為我所學到的東西，如果沒有那個痛苦的錯誤，我永遠也學不到。
My life journey also led me to meet and marry a wonderful woman who I've been married to for 48 years.
我的人生旅程也讓我遇到了一位出色的女人並與她結為連理，我們結婚已經48年了。
It led me to have four children, which led me to have eight grandchildren who are the joys of my life. Such is life.
它讓我有了四個孩子，又讓我有了八個孫輩，他們是我生命中的歡樂。這就是生活。
I believe that the most important decision in your life will be who you choose as your life partner. So that may be ahead, and that's an important decision for me and for everyone, and will be true for you.
我相信，你們人生中最重要的決定，將是你們選擇誰作為你的人生伴侶。所以這可能就在前方，這對我、對每個人來說都是一個重要的決定，對你們來說也是如此。
There are lots of ups and downs along the way, some unimaginably great and some unimaginably terrible.
沿途會有很多起伏，有些好得難以想像，有些則糟得難以想像。
For example, I lost my son, which was worse than losing everything, including my life.
比如，我失去了我的兒子，這比失去一切（包括我的生命）還要糟糕。
What helped me through these challenges were two things: My meditation and my calmly reflecting on how reality works to get and write down the best principles for dealing with my realities.
幫助我度過這些挑戰的是兩件事：冥想，以及我冷靜地反思現實是如何運轉的，從而得出並寫下應對我所處現實的最佳原則。
This habit changed my whole perspective on life. I began to see almost everything as another "one of those" which happened to many people before in their own ways, and knowing that there's a best way to deal with each one of those.
這個習慣改變了我對生活的整個看法。我開始把幾乎所有的事情都看作是又一個“情景重現”，這些事情以前曾以各種方式發生在許多人身上，而且我知道對於其中的每一件事，都有一種最佳的應對方法。
One of my favorite principles that I learned through these sorts of experiences is: Pain + Reflection = Progress.
我通過這些經歷學到的最喜歡的一條原則是：痛苦 + 反思 = 進步。
I got in the habit of viewing pain as a signal that I have a problem, which I view as a puzzle to solve that will give me a gem in the form of a great principle.
我養成了這樣一種習慣：把痛苦看作是一個訊號，表明我遇到了問題，我把這個問題看作是一個需要解決的謎題，解決它會給我帶來一顆寶石——那就是一條偉大的原則。
I learned to value my painful experiences because they became my best learning experiences and led me to make my best advances.
我學會了珍視我痛苦的經歷，因為它們成了我最好的學習經歷，並指引我做出了最棒的改進。
I found that this approach to learning from encounters with reality to be a much better way of succeeding in life than remembering what others were trying to teach me.
我發現，這種從與現實的遭遇中學習的方法，比記住別人試圖教給我的東西，是人生中通往成功好得多的方式。
Those experiences and making the most of them, especially the painful experiences, are your opportunities.
那些經歷，以及充分利用它們，特別是痛苦的經歷，就是你們的機會。
Remember that you were born with a certain nature and you are on your journey to understand it and find what suits you.
記住，你生來就帶有特定的天性，你正走在瞭解它並尋找適合自己事物的旅程中。
Knowing your nature is always critically important to helping you understand what success is for you.
瞭解你的天性對於幫助你理解什麼是屬於你的成功，總是至關重要的。
People have different goals in life, so I can't tell you literally what is best for you.
人們在生活中有不同的目標，所以我不能確切地告訴你什麼對你來說是最好的。
But I can tell you that success is not having a lot more money or status than you need. Though most people think that that's what it is.
但我可以告訴你們，成功並不是擁有比你需要的更多的金錢或地位。儘管大多數人都這麼認為。
And in fact, it can become an unhealthy obsession for a lot of people. So avoid that.
事實上，這可能會成為許多人不健康的痴迷。所以，要避免陷入其中。
Logically, having a lot more money than you need couldn't possibly be a source of great happiness compared with the alternatives.
從邏輯上講，與其他的選擇相比，擁有遠超你需要的金錢，絕不可能是巨大幸福的源泉。
For example, it isn't more important than having the time and freedom to do what you most want to do.
例如，它並不比擁有時間和自由去做你最想做的事情更重要。
So what do I believe success is for most people? I believe that it is a matter of having meaningful work and meaningful relationships.
那麼，我認為對大多數人來說，成功是什麼？我認為是擁有有意義的工作和有意義的人際關係。
I'll say that again: meaningful work and meaningful relationships.
我再說一遍：有意義的工作和有意義的人際關係。
In other words, work and relationships that you are thrilled by.
換句話說，讓你感到興奮的工作和關係。
If you can make your work and your passion one in the same, and you could do it with people who you care about and care about you, you will have a happy, successful life.
如果你能讓你的工作和你的激情合二為一，並且能和那些你關心也關心你的人一起做，你就會擁有一個幸福、成功的人生。
As you travel along on life's journey, you have a choice of your approach to life.
當你在人生的旅途中前行時，你有權選擇你對待生活的方式。
When life doesn't give you what you want, you can be angry or sad for yourself, or you can learn about how reality works and develop principles that will work well to get you what you want.
當生活沒有給你想要的東西時，你可以為自己感到憤怒或悲傷，或者你也可以去瞭解現實是如何運轉的，並制定出能有效幫助你獲得所想之物的原則。
I urge you to own your life and take responsibility to make it great.
我強烈建議你掌控自己的人生，並承擔起讓它變得偉大的責任。
Think about how reality works. Be radically open-minded to hear how you can be better, and plan the moves to make in order to improve your life and make yourself a great life.
思考現實是如何運轉的。保持極度開放的心態，去傾聽如何能讓自己變得更好，並規劃你需要採取的行動，以改善你的生活，為自己創造一個偉大的人生。
And if you want to be really successful, recognize that you have to work damned hard at doing these things well. Excellence is worth it. That's just how life works.
如果你想獲得真正的成功，你必須認識到，你必須極其努力地做好這些事情。追求卓越是值得的。這就是生活的運作方式。
So the message that I want to leave you with today is that the most valuable thing you can have in the next phase of your life is not your diploma or even what you've learned thus far. It is your approach to life.
所以我今天想留給你們的資訊是，在你人生的下一個階段，你能擁有的最有價值的東西不是你的文憑，甚至也不是你迄今為止所學到的東西。而是你對待生活的方式。
If you take advantage of your experiences, good or painful, as opportunities to learn, you will find great principles that will help you deal with your realities well.
如果你能利用你的經歷（無論是好的還是痛苦的）作為學習的機會，你就會發現偉大的原則，這些原則將幫助你很好地應對你所面臨的現實。
In the process, you will discover your nature and find excellent work and excellent relationships that will suit you, which will give you the best possible life.
在這個過程中，你會發現自己的天性，並找到適合你的卓越工作和良好人際關係，這將給你帶來儘可能最好的人生。
So class of '26, congratulations. Now get out there and encounter your realities and your excellent sense of adventure.
所以，26屆的畢業生們，祝賀你們。現在，走出去，去迎接你們的現實，去發揮你們卓越的冒險精神吧。
Which piece of advice from Ray Dalio resonated with you the most? Let me know in the comments below!
瑞·達利歐的哪條建議最能引起你的共鳴？ (慢慢學英語的Lemon)