You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.
RAY DALIOIt is a law of nature that you must do difficult things to gain strength and power. As with working out, after a while you make the connection between doing difficult things and the benefits you get from doing them, and you come to look forward to doing these difficult things.
More Ray Dalio Quotes
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Demand is best measured in terms of spending. You know, I think in traditional economics, it’s a mistake to measure it in terms of the quantity of goods.
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More than anything else, what differentiates people who live up to their potential from those who don’t is a willingness to look at themselves and others objectively.
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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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I notice a difference from the moment I meditate.
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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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There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
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To make money in the markets, you have to think independently and be humble.
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Meditation, more than any other factor, has been the reason for what success I’ve had.
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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.
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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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When you’re centered, your emotions are not hijacking you.
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Watch out for people who think it’s embarrassing not to know.
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I think the greatest tragedy of mankind is that people have ideas and opinions in their heads but don’t have a process for properly examining these ideas to find out what’s true. That creates a world of distortions.
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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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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.
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