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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.

Ray Dalio

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
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
Almost everything is like a machine.
RAY DALIO

Machine One Liner People
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
Watch out for people who think it’s embarrassing not to know.
RAY DALIO

Embarrass People Thinking
There is nothing to fear from truth….Being truthful is essential to being an independent thinker and obtaining greater understanding of what is right.
RAY DALIO

Essential Fear Independent Right Thinking Truth Understand
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
Treat your life like a game.
RAY DALIO

Game Life One Liner Treat
Life is like a giant smorgasbord of more delicious alternatives than you can ever hope to taste. So you have to reject having some things you want in order to get other things you want more.
RAY DALIO

Delicious Hope Life Rejection Taste Yourself
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
I believe that dreamers who simply imagine things that would be nice but are not possible don’t sufficiently appreciate the laws of the universe to understand the true implications of their desires, much less how to achieve them.
RAY DALIO

Achievement Believe Desire Dreams Imagination Myself Simplicity Understand
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
Successful people ask for the criticism of others and consider its merit.
RAY DALIO

Advantage Criticism People Success
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.
RAY DALIO

Black Dimension Eyes Power White Yourself
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.
RAY DALIO

Beautiful Growth Positive Slow Speed Time
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.
RAY DALIO

Measurement Money People Return Rough Society

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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The big question is: When will the term structure of interest rates change? That’s the question to be worried about.

Related Topics

Popular Authors

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