Almost everything is like a machine.
RAY DALIOWatch out for people who think it’s embarrassing not to know.
More Ray Dalio Quotes
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Look at what caused people to make a lot of money and you will see that usually it is in proportion to their production of what the society wanted.
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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 is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
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Radical transparency fosters goodness in so many ways for the same reasons that bad things are more likely to take place behind closed doors.
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Some people seek to understand, and some people seek to portray what they want to portray.
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Forget about what the technology is. Just understand the motivation behind it.
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I think meditation has been the single biggest reason for whatever success Ive had.
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It all comes down to interest rates. As an investor, all you’re doing is putting up a lump-sump payment for a future cash flow.
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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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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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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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To make money in the markets, you have to think independently and be humble.
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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 more you think you know, the more closed-minded you’ll be.
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I notice a difference from the moment I meditate.
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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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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 think so many people are reactive… they see things in a short term way they’re right up against it.
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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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I could see that making judgments about people so that they are tried and sentenced in your head, without asking them for their perspective, is both unethical and unproductive. So I learned to love real integrity and to despise the lack of it.
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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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When you’re centered, your emotions are not hijacking you.
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I’d like to be clear that a number of people find me intolerable, and they don’t hesitate to say so – which they and I cherish.
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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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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.
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To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
RAY DALIO