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When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation’s lower than expected, bonds go up.

Ray Dalio

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
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.
RAY DALIO

Easy Hard Remember Success Thinking
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
Everyone has to decide for themselves what works for them and their organization.
RAY DALIO

Decision Organization Work
If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
RAY DALIO

Country Current Decline Interest Rate
Some people who are creative are not reliable and vice versa; some see big pictures while others see details, etc. All of them are important to have on well-orchestrated teams.
RAY DALIO

Creation People Photograph Team Trust
Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIO

Encouragement People Yourself
Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
RAY DALIO

Life Live Principle Value Yourself
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.
RAY DALIO

Difficult Law Nature Work Yourself
The best advice I can give you is to ask yourself what do you want, then ask ‘what is true’ – and then ask yourself ‘what should be done about it.’ I believe that if you do this you will move much faster towards what you want to get out of life than if you don’t!
RAY DALIO

Advice Believe Best Life True Yourself
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
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

Measurement Money People Return Rough Society
Ask yourself whether you have earned the right to have an opinion. Opinions are easy to produce, so bad ones abound. Knowing that you don’t know something is nearly as valuable as knowing it. The worst situation is thinking you know something when you don’t.
RAY DALIO

Bad Easy Oneself Opinion Production Right Situation Value Worst
People who acquire things beyond their usefulness not only will derive little or no marginal gains from these acquisitions, but they also will experience negative consequences, as with any form of gluttony.
RAY DALIO

Beyond Experience Form Negative People
There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.
RAY DALIO

Acceptance Bad Eyes See Strong
I believe that one of the best ways of getting at truth is reflecting with others who have opposing views and who share your interest in finding the truth rather than being proven right
RAY DALIO

Believe Best Evidence Finding Interest Share Truth Way

When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation’s lower than expected, bonds go up.

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When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation’s lower than expected, bonds go up.

Related Topics

Popular Authors

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