It all comes down to interest rates. As an investor, all you’re doing is putting up a lump-sump payment for a future cash flow.
RAY DALIOLike the saying goes, don’t believe everything you read.
More Ray Dalio Quotes
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The more you think you know, the more closed-minded you’ll be.
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There is nothing to fear from truth….Being truthful is essential to being an independent thinker and obtaining greater understanding of what is right.
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Almost everything is like a machine.
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I think meditation has been the single biggest reason for whatever success Ive had.
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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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There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
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The big question is: When will the term structure of interest rates change? That’s the question to be worried about.
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It is a law of nature that you must do difficult things to gain strength and power. As with working out, after a while you make the connection between doing difficult things and the benefits you get from doing them, and you come to look forward to doing these difficult things.
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Some people seek to understand, and some people seek to portray what they want to portray.
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Constantly probe the people who report to you, and encourage them to probe you.
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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.
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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 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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In return, society rewards those who give it what it wants. That is why how much money people have earned is a rough measure of how much they gave society what it wanted.
RAY DALIO