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I’ve learned that each mistake was probably a reflection of something that I was (or others were) doing wrong, so if I could figure out what that was, I could learn how to be more effective.

Ray Dalio

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
An economy is not a complicated thing; it just has a lot of moving parts.
RAY DALIO

Complication Economy Move
To make money in the markets, you have to think independently and be humble.
RAY DALIO

Business Humble Independent Marketing Money Thinking Yourself
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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Acceptance Comfortable Excellence Game Play Thrill Yourself
School typically doesn’t prepare young people for real life – unless their lives are spent following instructions and pleasing others. In my opinion, that’s why so many students who succeed in school fail in life.
RAY DALIO

Fall Instruction Life People Reality School Success Typical Young
I’ve learned that each mistake was probably a reflection of something that I was (or others were) doing wrong, so if I could figure out what that was, I could learn how to be more effective.
RAY DALIO

Learning Mistake Myself Reflection Wrong
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
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.
RAY DALIO

Development Leadership Learning Pain Problem Solution Way 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
Be wary of the arrogant intellectual who comments from the stands without having played on the field.
RAY DALIO

Arrogant Field Intellectual Play Pride Stand
Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIO

Encouragement People Yourself
I believe that the biggest problem that humanity faces is an ego sensitivity to finding out whether one is right or wrong and identifying what one’s strengths and weaknesses are.
RAY DALIO

Believe Big Humanity Myself Problem Strength Weakness Wrong
There are far more good answers “out there” than there are in you.
RAY DALIO

Control Drive Inspirational Yourself
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
There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes.
RAY DALIO

Desire Excellence Money Oneself Society
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

I’ve learned that each mistake was probably a reflection of something that I was (or others were) doing wrong, so if I could figure out what that was, I could learn how to be more effective.

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I’ve learned that each mistake was probably a reflection of something that I was (or others were) doing wrong, so if I could figure out what that was, I could learn how to be more effective.

Related Topics

Popular Authors

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