I’d like to be clear that a number of people find me intolerable, and they don’t hesitate to say so – which they and I cherish.
RAY DALIOBy and large, life will give you what you deserve and it doesn’t give a damn what you like. So it is up to you to take full responsibility to connect what you want with what you need to do to get it, and then to do those things.
More Ray Dalio Quotes
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Successful people ask for the criticism of others and consider its merit.
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Since the only way you are going to find solutions to painful problems is by thinking deeply about them – i.e., reflecting – if you can develop a knee-jerk reaction to pain that is to reflect rather than to fight or flee, it will lead to your rapid learning/evolving.
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Once you accept that playing the game will be uncomfortable, and you do it for a while, it will become much easier (like it does when getting fit). When you excel at it, you will find your ability to get what you want thrilling.
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Though how nature works is way beyond man’s ability to comprehend, I have found that observing how nature works offers innumerable lessons that can help us understand the realities that affect us.
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I can be stressed, or tired, and I can go into a meditation and it all just flows off of me. I’ll come out of it refreshed and centered and that’s how I’ll feel and it’ll carry through the day.
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You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.
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Like the saying goes, don’t believe everything you read.
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If you have the power to see things through somebody else’s eyes, it’s like going from black and white to color or two dimensions to three dimensions.
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Ask yourself whether you have earned the right to have an opinion. Opinions are easy to produce, so bad ones abound. Knowing that you don’t know something is nearly as valuable as knowing it. The worst situation is thinking you know something when you don’t.
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To test if you are worrying too much about looking good, observe how you feel when you find out you’ve made a mistake or don’t know something.
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People who worry about looking good typically hide what they don’t know and hide their weaknesses, so they never learn how to properly deal with them and these weaknesses remain impediments in the future.
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People who confuse what they wish were true with what is really true create distorted pictures of reality that make it impossible for them to make the best choices.
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When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation’s lower than expected, bonds go up.
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It’s more important to do big things well than to do small things perfectly.
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I think meditation has been the single biggest reason for whatever success Ive had.
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Constantly probe the people who report to you, and encourage them to probe you.
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Success is achieved by people who deeply understand reality and know how to use it to get what they want. The converse is also true: idealists who are not well-grounded in reality create problems, not progress.
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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.
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People who acquire things beyond their usefulness not only will derive little or no marginal gains from these acquisitions, but they also will experience negative consequences, as with any form of gluttony.
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Look at what caused people to make a lot of money and you will see that usually it is in proportion to their production of what the society wanted.
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The big question is: When will the term structure of interest rates change? That’s the question to be worried about.
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I don’t think individual media outlets will regulate. There are such things as self-regulatory organizations that will look at the members of the industry and their behavior and establish standards of behavior.
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In return, society rewards those who give it what it wants. That is why how much money people have earned is a rough measure of how much they gave society what it wanted.
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He who lives by the crystal ball will eat shattered glass.
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The more you think you know, the more closed-minded you’ll be.
RAY DALIO