每日原则：不要把某人所处环境的优劣与其应对方法的优劣混为一谈

我一直认为桥水“在很差的环境中努力创造佳绩”。近40年来，我们持续创造着不平凡的业绩，但同时也在挣扎着应对大量的问题。在不好的环境中，很容易因为情况太差而灰心丧气。但是真正的挑战在于，要能看到，正是这些糟糕的环境激发了长期的成功，要认识到这些不利情景对促使我们不断改进创新是不可或缺的。

One can be good and the other can be bad, and it's easy to confuse which is which. Such confusion is especially common in organizations that are doing new things and evolving fast but haven't yet gotten the kinks out.

I have always described Bridgewater as being "terrible and terrific at the same time." For nearly forty years, we have consistently produced extraordinary results while struggling with lots of problems. It is easy to look at messy circumstances, think things must be terrible, and get frustrated. But the real challenge is to look at the long-term successes these messy circumstances have produced and understand how essential they are to the evolutionary process of innovation.