If you don’t own Gold, you know neither history nor economics.
RAY DALIOMeditation more than anything in my life was the biggest ingredient of whatever success I’ve had.
More Ray Dalio Quotes
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I believe that the biggest problem that humanity faces is an ego sensitivity to finding out whether one is right or wrong and identifying what one’s strengths and weaknesses are.
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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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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.
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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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The more you think you know, the more closed-minded you’ll be.
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To make money in the markets, you have to think independently and be humble.
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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.
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Don’t worry about looking good – worry about achieving your goals.
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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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He who lives by the crystal ball will eat shattered glass.
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I could see that making judgments about people so that they are tried and sentenced in your head, without asking them for their perspective, is both unethical and unproductive. So I learned to love real integrity and to despise the lack of it.
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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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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.
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Success is achieved by people who deeply understand reality and know how to use it to get what they want. The converse is also true: idealists who are not well-grounded in reality create problems, not progress.
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It’s more important to do big things well than to do small things perfectly.
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