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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.

Ray Dalio

It is a law of nature that you must do difficult things to gain strength and power. As with working out, after a while you make the connection between doing difficult things and the benefits you get from doing them, and you come to look forward to doing these difficult things.
RAY DALIO

Difficult Law Nature Work Yourself
Meditation more than anything in my life was the biggest ingredient of whatever success I’ve had.
RAY DALIO

Big Life Meditation Myself Success
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
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
Demand is best measured in terms of spending. You know, I think in traditional economics, it’s a mistake to measure it in terms of the quantity of goods.
RAY DALIO

Demand Measurement Mistake Myself Quantity Tradition
People who worry about looking good typically hide what they don’t know and hide their weaknesses, so they never learn how to properly deal with them and these weaknesses remain impediments in the future.
RAY DALIO

Future Goodness Hide People Proper Weakness Worry
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.
RAY DALIO

Desire Excellence Money Oneself Society
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
When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.
RAY DALIO

Beginning Intelligence Learning Party Potential
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
Be wary of the arrogant intellectual who comments from the stands without having played on the field.
RAY DALIO

Arrogant Field Intellectual Play Pride Stand
There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.
RAY DALIO

Acceptance Bad Eyes See Strong
To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
RAY DALIO

Best Decision Independent Need Success Thinking
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.
RAY DALIO

Affect Beyond Lesson Nature Understand Way Work
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.
RAY DALIO

Development Leadership Learning Pain Problem Solution Way Yourself
In the end, what matters most is that the people you work with share your values, so I’ve wanted people who value the meaningful work and meaningful relationships that always motivated me in building Bridgewater.
RAY DALIO

End Motivational People Relationship Share Value Work

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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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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Popular Authors

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