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.
RAY DALIOMore 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.
More Ray Dalio Quotes
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Treat your life like a game.
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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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Don’t worry about looking good – worry about achieving your goals.
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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.
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I can be stressed, or tired, and I can go into a meditation and it all just flows off of me. I’ll come out of it refreshed and centered and that’s how I’ll feel and it’ll carry through the day.
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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 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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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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He who lives by the crystal ball will eat shattered glass.
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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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There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
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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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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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The media has the power to create an entrenched perception of reality that’s incorrect.
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There are far more good answers “out there” than there are in you.
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