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Be wary of the arrogant intellectual who comments from the stands without having played on the field.

Ray Dalio

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
Life is like a giant smorgasbord of more delicious alternatives than you can ever hope to taste. So you have to reject having some things you want in order to get other things you want more.
RAY DALIO

Delicious Hope Life Rejection Taste Yourself
Most people have a hard time confronting their weaknesses in a really straightforward, evidence-based way. They also have problems speaking frankly to others. Some people love knowing about their weaknesses and mistakes and those of others because it helps them be so much better, while others can’t stand it.
RAY DALIO

Evidence Hard Time Mistake People Problem Stand Way Weakness
He who lives by the crystal ball will eat shattered glass.
RAY DALIO

Advice Himself Live Place
I think meditation has been the single biggest reason for whatever success Ive had.
RAY DALIO

Meditation Myself Success Thinking
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
Successful people ask for the criticism of others and consider its merit.
RAY DALIO

Advantage Criticism People Success
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
I notice a difference from the moment I meditate.
RAY DALIO

Difference Meditation Moments Myself Notice
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
When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.
RAY DALIO

Beginning Intelligence Learning Party Potential
Radical transparency fosters goodness in so many ways for the same reasons that bad things are more likely to take place behind closed doors.
RAY DALIO

Bad Goodness Hide Place Radiant Reason
When you’re faced with a choice, you have one of three choices that you can have. You can have those with power decide. You can have one man, one vote. Or you can have believability-weighted decision-making.
RAY DALIO

Choice Decision Face Man Vote Yourself
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
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.
RAY DALIO

Carry Day Flow Meditation Myself
To make money in the markets, you have to think independently and be humble.
RAY DALIO

Business Humble Independent Marketing Money Thinking Yourself

Be wary of the arrogant intellectual who comments from the stands without having played on the field.

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Be wary of the arrogant intellectual who comments from the stands without having played on the field.

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