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The media has the power to create an entrenched perception of reality that’s incorrect.

Ray Dalio

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.
RAY DALIO

Gold Market Money Opportunity Price Way
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
Everyone has to decide for themselves what works for them and their organization.
RAY DALIO

Decision Organization Work
By 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.
RAY DALIO

Connection Deserve Life Responsibility 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
The more you think you know, the more closed-minded you’ll be.
RAY DALIO

Limitation Mindset Thinking Yourself
There are two main drivers of asset class returns – inflation and growth.
RAY DALIO

Class Drive Growth Main Return
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.
RAY DALIO

End Motivational People Relationship Share Value Work
Most people have a hard time confronting their weaknesses in a really straightforward, evidence-based way. They also have problems speaking frankly to others. Some people love knowing about their weaknesses and mistakes and those of others because it helps them be so much better, while others can’t stand it.
RAY DALIO

Evidence Hard Time Mistake People Problem Stand Way Weakness
There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.
RAY DALIO

Acceptance Bad Eyes See Strong
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
Remember that experience creates internalization. Doing things repeatedly leads to internalization, which produces a quality of understanding that is generally vastly superior to intellectualized learning.
RAY DALIO

Experience Intellectual Leadership Learning Production Quality Remember
Like the saying goes, don’t believe everything you read.
RAY DALIO

Believe Reading Trust Yourself
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
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
Successful people ask for the criticism of others and consider its merit.
RAY DALIO

Advantage Criticism People Success

The media has the power to create an entrenched perception of reality that’s incorrect.

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The media has the power to create an entrenched perception of reality that’s incorrect.

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