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Do not feel bad about your mistakes or those of others. Love them! Remember that one: they are to be expected; two: they’re the first and most essential part of the learning process; and three: feeling bad about them will prevent you from getting better.

Ray Dalio

The main reason I write the daily observations is because I want to know where I’m wrong. So lots of times if somebody points something out it helps me, and I want to have a diversified bet of uncorrelated bets.
RAY DALIO

Help Myself Observation Reason Writing Wrong
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
There are far more good answers “out there” than there are in you.
RAY DALIO

Control Drive Inspirational Yourself
The best advice I can give you is to ask yourself what do you want, then ask ‘what is true’ – and then ask yourself ‘what should be done about it.’ I believe that if you do this you will move much faster towards what you want to get out of life than if you don’t!
RAY DALIO

Advice Believe Best Life True Yourself
What matters most is that the people you work with share your values.
RAY DALIO

People Share Value Work Yourself
It all comes down to interest rates. As an investor, all you’re doing is putting up a lump-sump payment for a future cash flow.
RAY DALIO

Flow Future Interest Investment Pay Rate
The big question is: When will the term structure of interest rates change? That’s the question to be worried about.
RAY DALIO

Change Interest Rate Structure Worry
Meditation helps you stay in a calm, clear-headed state so that when challenges come at you, you can deal with them like a ninja – in a calm thoughtful way. When you’re centered, your emotions are not hijacking you.
RAY DALIO

Calm Challenge Emotion Help Meditation Stay Yourself
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.
RAY DALIO

Beyond Experience Form Negative People
When you think that it’s too hard, remember that in the long run, doing the things that will make you successful is a lot easier than being unsuccessful.
RAY DALIO

Easy Hard Remember Success Thinking
There are two main drivers of asset class returns – inflation and growth.
RAY DALIO

Class Drive Growth Main Return
To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
RAY DALIO

Best Decision Independent Need Success Thinking
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.
RAY DALIO

Acceptance Comfortable Excellence Game Play Thrill Yourself
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.
RAY DALIO

Money People Production Society Warning
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 DALIO

Hesitate Myself People Tolerance
The more you think you know, the more closed-minded you’ll be.
RAY DALIO

Limitation Mindset Thinking Yourself

Do not feel bad about your mistakes or those of others. Love them! Remember that one: they are to be expected; two: they’re the first and most essential part of the learning process; and three: feeling bad about them will prevent you from getting better.

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Do not feel bad about your mistakes or those of others. Love them! Remember that one: they are to be expected; two: they’re the first and most essential part of the learning process; and three: feeling bad about them will prevent you from getting better.

Related Topics

Popular Authors

More Ray Dalio Quotes