That’s what I mean by radical truth. I mean accepting reality.
RAY DALIOIn the end, what matters most is that the people you work with share your values, so I’ve wanted people who value the meaningful work and meaningful relationships that always motivated me in building Bridgewater.
More Ray Dalio Quotes
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There is nothing to fear from truth….Being truthful is essential to being an independent thinker and obtaining greater understanding of what is right.
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Meditation, more than any other factor, has been the reason for what success I’ve had.
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In the end, what matters most is that the people you work with share your values, so I’ve wanted people who value the meaningful work and meaningful relationships that always motivated me in building Bridgewater.
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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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Over the long run, the price of gold approximates the total amount of money in circulation divided by the size of the gold stock. If the market price of gold moves a long way from this level, it may indicate a buying or selling opportunity.
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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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If you can stare hard at your problems, they almost always shrink or disappear, because you almost always find a better way of dealing with them than if you don’t face them head on. The more difficult the problem, the more important it is that you stare at it and deal with it.
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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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Watch out for people who think it’s embarrassing not to know.
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Successful people ask for the criticism of others and consider its merit.
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I think the greatest tragedy of mankind is that people have ideas and opinions in their heads but don’t have a process for properly examining these ideas to find out what’s true. That creates a world of distortions.
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It is a law of nature that you must do difficult things to gain strength and power. As with working out, after a while you make the connection between doing difficult things and the benefits you get from doing them, and you come to look forward to doing these difficult things.
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The more you think you know, the more closed-minded you’ll be.
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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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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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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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I’m going to give away a lot more than half my money. I’d be happy to give that to the government if the government put together programs that were like I’m giving away to charity, in which I believe the money is effectively used to help people.
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The media has the power to create an entrenched perception of reality that’s incorrect.
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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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What matters most is that the people you work with share your values.
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When you’re faced with a choice, you have one of three choices that you can have. You can have those with power decide. You can have one man, one vote. Or you can have believability-weighted decision-making.
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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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Demand is best measured in terms of spending. You know, I think in traditional economics, it’s a mistake to measure it in terms of the quantity of goods.
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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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Everyone has to decide for themselves what works for them and their organization.
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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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