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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

The big question is: When will the term structure of interest rates change? That’s the question to be worried about.
RAY DALIO

Change Interest Rate Structure Worry
That’s what I mean by radical truth. I mean accepting reality.
RAY DALIO

Acceptance Myself Radiant Truth
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 are two main drivers of asset class returns – inflation and growth.
RAY DALIO

Class Drive Growth Main Return
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
I believe that the biggest problem that humanity faces is an ego sensitivity to finding out whether one is right or wrong and identifying what one’s strengths and weaknesses are.
RAY DALIO

Believe Big Humanity Myself Problem Strength Weakness Wrong
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.
RAY DALIO

Arrogant Field Intellectual Play Pride Stand
The more you think you know, the more closed-minded you’ll be.
RAY DALIO

Limitation Mindset Thinking Yourself
If you have the power to see things through somebody else’s eyes, it’s like going from black and white to color or two dimensions to three dimensions.
RAY DALIO

Black Dimension Eyes Power White Yourself
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
It’s more important to do big things well than to do small things perfectly.
RAY DALIO

Big Important Inspirational Perfection Small
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
An economy is not a complicated thing; it just has a lot of moving parts.
RAY DALIO

Complication Economy Move
When you’re centered, your emotions are not hijacking you.
RAY DALIO

Emotion Spiritual Aware Yourself
Meditation, more than any other factor, has been the reason for what success I’ve had.
RAY DALIO

Factor Meditation Myself Reason Success

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

More Ray Dalio Quotes