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Constantly probe the people who report to you, and encourage them to probe you.

Ray Dalio

There is nothing to fear from truth….Being truthful is essential to being an independent thinker and obtaining greater understanding of what is right.
RAY DALIO

Essential Fear Independent Right Thinking Truth Understand
I believe that dreamers who simply imagine things that would be nice but are not possible don’t sufficiently appreciate the laws of the universe to understand the true implications of their desires, much less how to achieve them.
RAY DALIO

Achievement Believe Desire Dreams Imagination Myself Simplicity Understand
Nature gave us pain as a messaging device to tell us that we are approaching, or that we have exceeded, our limits in some way.
RAY DALIO

Device Limitation Nature Ourselves Pain Way
He who lives by the crystal ball will eat shattered glass.
RAY DALIO

Advice Himself Live Place
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.
RAY DALIO

Bad Easy Oneself Opinion Production Right Situation Value Worst
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.
RAY DALIO

Choice Confusion Creation Impossible People True
Forget about what the technology is. Just understand the motivation behind it.
RAY DALIO

Forget Motivational Technology Understand
The media has the power to create an entrenched perception of reality that’s incorrect.
RAY DALIO

Creation Media Perception Power True
Like the saying goes, don’t believe everything you read.
RAY DALIO

Believe Reading Trust Yourself
There are two main drivers of asset class returns – inflation and growth.
RAY DALIO

Class Drive Growth Main Return
Competitiveness is really what it costs you per man-hour to get you what you want. In other words, there’s an education level that plays into the mix and so if it’s inexpensive to buy an hour of real good education in places like China versus the U.S., that factors in.
RAY DALIO

Competition Cost Education Factor Goodness Place Reality Word
Almost everything is like a machine.
RAY DALIO

Machine One Liner People
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.
RAY DALIO

Bond Expectation Growth Investment Marketing Slow
Life is like a giant smorgasbord of more delicious alternatives than you can ever hope to taste. So you have to reject having some things you want in order to get other things you want more.
RAY DALIO

Delicious Hope Life Rejection Taste Yourself
The more you think you know, the more closed-minded you’ll be.
RAY DALIO

Limitation Mindset Thinking Yourself
The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it’s silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).
RAY DALIO

Call Choice Harm Pain Problem Solution Understand Yourself

Constantly probe the people who report to you, and encourage them to probe you.

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Constantly probe the people who report to you, and encourage them to probe you.

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