Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIOWhat matters most is that the people you work with share your values.
More Ray Dalio Quotes
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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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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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If you don’t own Gold, you know neither history nor economics.
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Everyone has to decide for themselves what works for them and their organization.
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Be wary of the arrogant intellectual who comments from the stands without having played on the field.
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The big question is: When will the term structure of interest rates change? That’s the question to be worried about.
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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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The more you think you know, the more closed-minded you’ll be.
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Though how nature works is way beyond man’s ability to comprehend, I have found that observing how nature works offers innumerable lessons that can help us understand the realities that affect us.
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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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I believe that we all get rewarded and punished according to whether we operate in harmony or in conflict with nature’s laws, and that all societies will succeed or fail in the degrees that they operate consistently with these laws.
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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.
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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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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).
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There are far more good answers “out there” than there are in you.
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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.
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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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I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
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When you’re centered, your emotions are not hijacking you.
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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.
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I believe that for the most part, achieving success – whatever that is for you – is mostly a matter of personal choice and that, initially, making the right choices can be difficult.
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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.
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There is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That’s a beautiful deleveraging.
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Meditation more than anything in my life was the biggest ingredient of whatever success I’ve had.
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Like the saying goes, don’t believe everything you read.
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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.
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