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 DALIOForget about what the technology is. Just understand the motivation behind it.
More Ray Dalio Quotes
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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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I think meditation has been the single biggest reason for whatever success Ive had.
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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.
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A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn’t dramatic.
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You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.
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Like the saying goes, don’t believe everything you read.
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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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To test if you are worrying too much about looking good, observe how you feel when you find out you’ve made a mistake or don’t know something.
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There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.
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What matters most is that the people you work with share your values.
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That’s what I mean by radical truth. I mean accepting reality.
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It’s more important to do big things well than to do small things perfectly.
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If you have the power to see things through somebody else’s eyes, it’s like going from black and white to color or two dimensions to three dimensions.
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To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
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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