Don’t worry about looking good – worry about achieving your goals.
RAY DALIOThere are two main drivers of asset class returns – inflation and growth.
More Ray Dalio Quotes
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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!
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Though how nature works is way beyond man’s ability to comprehend, I have found that observing how nature works offers innumerable lessons that can help us understand the realities that affect us.
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An economy is not a complicated thing; it just has a lot of moving parts.
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There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes.
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Almost everything is like a machine.
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When you think that it’s too hard, remember that in the long run, doing the things that will make you successful is a lot easier than being unsuccessful.
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Competitiveness is really what it costs you per man-hour to get you what you want. In other words, there’s an education level that plays into the mix and so if it’s inexpensive to buy an hour of real good education in places like China versus the U.S., that factors in.
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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.
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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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The big question is: When will the term structure of interest rates change? That’s the question to be worried about.
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Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
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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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Ask yourself whether you have earned the right to have an opinion. Opinions are easy to produce, so bad ones abound. Knowing that you don’t know something is nearly as valuable as knowing it. The worst situation is thinking you know something when you don’t.
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A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn’t dramatic.
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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