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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.

Ray Dalio

You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.
RAY DALIO

Assumption Future Hold Strategy Yourself
Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIO

Encouragement People Yourself
If you don’t own Gold, you know neither history nor economics.
RAY DALIO

Economics History Yourself
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.
RAY DALIO

Achievement Believe Desire Dreams Imagination Myself Simplicity Understand
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.
RAY DALIO

Help Myself Observation Reason Writing Wrong
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.
RAY DALIO

Hesitate Myself People Tolerance
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.
RAY DALIO

Beyond Experience Form Negative People
Successful people ask for the criticism of others and consider its merit.
RAY DALIO

Advantage Criticism People Success
I believe that for the most part, achieving success – whatever that is for you – is mostly a matter of personal choice and that, initially, making the right choices can be difficult.
RAY DALIO

Achievement Believe Choice Difficult
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.
RAY DALIO

Creation Greatness Kind Man Myself Thinking Tragedy World
Forget about what the technology is. Just understand the motivation behind it.
RAY DALIO

Forget Motivational Technology Understand
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).
RAY DALIO

Call Choice Harm Pain Problem Solution Understand Yourself
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.
RAY DALIO

Appearance Goodness Mistake Observation Worry Yourself
There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
RAY DALIO

People Potential Special Thinking
Remember that experience creates internalization. Doing things repeatedly leads to internalization, which produces a quality of understanding that is generally vastly superior to intellectualized learning.
RAY DALIO

Experience Intellectual Leadership Learning Production Quality Remember
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 DALIO

Gold Market Money Opportunity Price Way

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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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.

Related Topics

Popular Authors

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