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

Ray Dalio

Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIO

Encouragement People Yourself
Do not feel bad about your mistakes or those of others. Love them! Remember that one: they are to be expected; two: they’re the first and most essential part of the learning process; and three: feeling bad about them will prevent you from getting better.
RAY DALIO

Bad Better Essential Expectation Feeling Learning Mistake Process
Meditation more than anything in my life was the biggest ingredient of whatever success I’ve had.
RAY DALIO

Big Life Meditation Myself Success
There are far more good answers “out there” than there are in you.
RAY DALIO

Control Drive Inspirational 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
Like the saying goes, don’t believe everything you read.
RAY DALIO

Believe Reading Trust Yourself
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
There is nothing to fear from truth….Being truthful is essential to being an independent thinker and obtaining greater understanding of what is right.
RAY DALIO

Essential Fear Independent Right Thinking Truth Understand
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
It’s more important to do big things well than to do small things perfectly.
RAY DALIO

Big Important Inspirational Perfection Small
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
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.
RAY DALIO

Development Leadership Learning Pain Problem Solution Way Yourself
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.
RAY DALIO

Beautiful Growth Positive Slow Speed Time
Be wary of the arrogant intellectual who comments from the stands without having played on the field.
RAY DALIO

Arrogant Field Intellectual Play Pride Stand
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
The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it’s silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).
RAY DALIO

Call Choice Harm Pain Problem Solution Understand 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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