Treat your life like a game.
RAY DALIOTo be successful, we need everyone to think independently and work through disagreement to decide what’s best.
More Ray Dalio Quotes
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By and large, life will give you what you deserve and it doesn’t give a damn what you like. So it is up to you to take full responsibility to connect what you want with what you need to do to get it, and then to do those things.
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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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I think so many people are reactive… they see things in a short term way they’re right up against it.
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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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There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
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You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.
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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.
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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.
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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’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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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 you think that it’s too hard, remember that in the long run, doing the things that will make you successful is a lot easier than being unsuccessful.
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If you don’t own Gold, you know neither history nor economics.
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There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.
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