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 DALIOIf 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.
More Ray Dalio Quotes
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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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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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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.
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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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People who acquire things beyond their usefulness not only will derive little or no marginal gains from these acquisitions, but they also will experience negative consequences, as with any form of gluttony.
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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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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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Competitiveness is really what it costs you per man-hour to get you what you want. In other words, there’s an education level that plays into the mix and so if it’s inexpensive to buy an hour of real good education in places like China versus the U.S., that factors in.
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There are two main drivers of asset class returns – inflation and growth.
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Some people who are creative are not reliable and vice versa; some see big pictures while others see details, etc. All of them are important to have on well-orchestrated teams.
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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.
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I believe that one of the best ways of getting at truth is reflecting with others who have opposing views and who share your interest in finding the truth rather than being proven right
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Since the only way you are going to find solutions to painful problems is by thinking deeply about them – i.e., reflecting – if you can develop a knee-jerk reaction to pain that is to reflect rather than to fight or flee, it will lead to your rapid learning/evolving.
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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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Everyone has to decide for themselves what works for them and their organization.
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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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To make money in the markets, you have to think independently and be humble.
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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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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.
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I think so many people are reactive… they see things in a short term way they’re right up against it.
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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.
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When you’re faced with a choice, you have one of three choices that you can have. You can have those with power decide. You can have one man, one vote. Or you can have believability-weighted decision-making.
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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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Don’t worry about looking good – worry about achieving your goals.
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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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I think meditation has been the single biggest reason for whatever success Ive had.
RAY DALIO