There are two main drivers of asset class returns – inflation and growth.
RAY DALIOThere 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.
More Ray Dalio Quotes
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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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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.
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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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Meditation more than anything in my life was the biggest ingredient of whatever success I’ve had.
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To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
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Meditation helps you stay in a calm, clear-headed state so that when challenges come at you, you can deal with them like a ninja – in a calm thoughtful way. When you’re centered, your emotions are not hijacking you.
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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.
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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.
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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.
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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.
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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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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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I notice a difference from the moment I meditate.
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I can be stressed, or tired, and I can go into a meditation and it all just flows off of me. I’ll come out of it refreshed and centered and that’s how I’ll feel and it’ll carry through the day.
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If you don’t own Gold, you know neither history nor economics.
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