Forget about what the technology is. Just understand the motivation behind it.
RAY DALIOPrinciples are what allow you to live a life consistent with those values. Principles connect your values to your actions.
More Ray Dalio Quotes
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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.
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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.
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People who acquire things beyond their usefulness not only will derive little or no marginal gains from these acquisitions, but they also will experience negative consequences, as with any form of gluttony.
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An economy is not a complicated thing; it just has a lot of moving parts.
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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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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.
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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’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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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.
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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.
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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.
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Meditation, more than any other factor, has been the reason for what success I’ve had.
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I believe that for the most part, achieving success – whatever that is for you – is mostly a matter of personal choice and that, initially, making the right choices can be difficult.
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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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He who lives by the crystal ball will eat shattered glass.
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