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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

Nature gave us pain as a messaging device to tell us that we are approaching, or that we have exceeded, our limits in some way.
RAY DALIO

Device Limitation Nature Ourselves Pain Way
If you can stare hard at your problems, they almost always shrink or disappear, because you almost always find a better way of dealing with them than if you don’t face them head on. The more difficult the problem, the more important it is that you stare at it and deal with it.
RAY DALIO

Deal Difficult Disappear Face Hard Problem Yourself
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.
RAY DALIO

Money People Production Society Warning
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
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
Meditation more than anything in my life was the biggest ingredient of whatever success I’ve had.
RAY DALIO

Big Life Meditation Myself Success
Like the saying goes, don’t believe everything you read.
RAY DALIO

Believe Reading Trust Yourself
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
When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation’s lower than expected, bonds go up.
RAY DALIO

Bond Expectation Growth Investment Marketing Slow
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
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

Measurement Money People Return Rough Society
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.
RAY DALIO

Easy Hard Remember Success Thinking
When you’re centered, your emotions are not hijacking you.
RAY DALIO

Emotion Spiritual Aware 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
The media has the power to create an entrenched perception of reality that’s incorrect.
RAY DALIO

Creation Media Perception Power True
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.
RAY DALIO

Behavior Establishment Media Member 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
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
Watch out for people who think it’s embarrassing not to know.
RAY DALIO

Embarrass People Thinking
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
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
Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
RAY DALIO

Life Live Principle Value Yourself
Almost everything is like a machine.
RAY DALIO

Machine One Liner People
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
The big question is: When will the term structure of interest rates change? That’s the question to be worried about.
RAY DALIO

Change Interest Rate Structure Worry
Successful people ask for the criticism of others and consider its merit.
RAY DALIO

Advantage Criticism People Success
I believe that one of the best ways of getting at truth is reflecting with others who have opposing views and who share your interest in finding the truth rather than being proven right
RAY DALIO

Believe Best Evidence Finding Interest Share Truth Way

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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