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He who lives by the crystal ball will eat shattered glass.

Ray Dalio

There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
RAY DALIO

People Potential Special Thinking
People who confuse what they wish were true with what is really true create distorted pictures of reality that make it impossible for them to make the best choices.
RAY DALIO

Choice Confusion Creation Impossible People True
Constantly probe the people who report to you, and encourage them to probe you.
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Encouragement People Yourself
More 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.
RAY DALIO

Live Object People Potential Willing
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.
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Creation Greatness Kind Man Myself Thinking Tragedy World
An economy is not a complicated thing; it just has a lot of moving parts.
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Complication Economy Move
The more you think you know, the more closed-minded you’ll be.
RAY DALIO

Limitation Mindset Thinking Yourself
If you don’t own Gold, you know neither history nor economics.
RAY DALIO

Economics History Yourself
To make money in the markets, you have to think independently and be humble.
RAY DALIO

Business Humble Independent Marketing Money Thinking Yourself
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.
RAY DALIO

Flow Future Interest Investment Pay Rate
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.
RAY DALIO

Ethics Integrity Judgement Learning Love People Perspective
Some people who are creative are not reliable and vice versa; some see big pictures while others see details, etc. All of them are important to have on well-orchestrated teams.
RAY DALIO

Creation People Photograph Team Trust
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
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.
RAY DALIO

Learning Mistake Myself Reflection Wrong
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.
RAY DALIO

Black Dimension Eyes Power White Yourself
To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
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Best Decision Independent Need Success Thinking
Everyone has to decide for themselves what works for them and their organization.
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Decision Organization Work
When you’re faced with a choice, you have one of three choices that you can have. You can have those with power decide. You can have one man, one vote. Or you can have believability-weighted decision-making.
RAY DALIO

Choice Decision Face Man Vote Yourself
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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Measurement Money People Return Rough Society
That’s what I mean by radical truth. I mean accepting reality.
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Acceptance Myself Radiant Truth
I believe that we all get rewarded and punished according to whether we operate in harmony or in conflict with nature’s laws, and that all societies will succeed or fail in the degrees that they operate consistently with these laws.
RAY DALIO

Believe Consist Karma Law Myself Nature Punishment Reward Success
Watch out for people who think it’s embarrassing not to know.
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Embarrass People Thinking
I’m going to give away a lot more than half my money. I’d be happy to give that to the government if the government put together programs that were like I’m giving away to charity, in which I believe the money is effectively used to help people.
RAY DALIO

Believe Government Happiness Help Money Myself People
Success is achieved by people who deeply understand reality and know how to use it to get what they want. The converse is also true: idealists who are not well-grounded in reality create problems, not progress.
RAY DALIO

Achievement Creation Ideal Problem Progress Reality Success True Understand
The best advice I can give you is to ask yourself what do you want, then ask ‘what is true’ – and then ask yourself ‘what should be done about it.’ I believe that if you do this you will move much faster towards what you want to get out of life than if you don’t!
RAY DALIO

Advice Believe Best Life True Yourself
Treat your life like a game.
RAY DALIO

Game Life One Liner Treat
Don’t worry about looking good – worry about achieving your goals.
RAY DALIO

Achievement Appearance Goal Goodness Worry

He who lives by the crystal ball will eat shattered glass.

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He who lives by the crystal ball will eat shattered glass.

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