There are two main drivers of asset class returns – inflation and growth.
RAY DALIOThat’s what I mean by radical truth. I mean accepting reality.
More Ray Dalio Quotes
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Almost everything is like a machine.
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I don’t think individual media outlets will regulate. There are such things as self-regulatory organizations that will look at the members of the industry and their behavior and establish standards of behavior.
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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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What matters most is that the people you work with share your values.
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School typically doesn’t prepare young people for real life – unless their lives are spent following instructions and pleasing others. In my opinion, that’s why so many students who succeed in school fail in life.
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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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To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
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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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The more you think you know, the more closed-minded you’ll be.
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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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The media has the power to create an entrenched perception of reality that’s incorrect.
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Like the saying goes, don’t believe everything you read.
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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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You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.
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It’s more important to do big things well than to do small things perfectly.
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Meditation, more than any other factor, has been the reason for what success I’ve had.
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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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Forget about what the technology is. Just understand the motivation behind it.
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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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Be wary of the arrogant intellectual who comments from the stands without having played on the field.
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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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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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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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To make money in the markets, you have to think independently and be humble.
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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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The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it’s silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).
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