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 DALIOThat’s what I mean by radical truth. I mean accepting reality.
More Ray Dalio Quotes
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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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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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I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
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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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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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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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There are two main drivers of asset class returns – inflation and growth.
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When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.
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What matters most is that the people you work with share your values.
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Watch out for people who think it’s embarrassing not to know.
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Some people seek to understand, and some people seek to portray what they want to portray.
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If you don’t own Gold, you know neither history nor economics.
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When you’re centered, your emotions are not hijacking you.
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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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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.
RAY DALIO