Forget about what the technology is. Just understand the motivation behind it.
RAY DALIOThere is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
More Ray Dalio Quotes
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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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He who lives by the crystal ball will eat shattered glass.
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When you’re centered, your emotions are not hijacking you.
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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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The media has the power to create an entrenched perception of reality that’s incorrect.
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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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To make money in the markets, you have to think independently and be humble.
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It’s more important to do big things well than to do small things perfectly.
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Like the saying goes, don’t believe everything you read.
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If you don’t own Gold, you know neither history nor economics.
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There are two main drivers of asset class returns – inflation and growth.
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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 slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That’s a beautiful deleveraging.
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Once you accept that playing the game will be uncomfortable, and you do it for a while, it will become much easier (like it does when getting fit). When you excel at it, you will find your ability to get what you want thrilling.
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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.
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