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.
RAY DALIOWhen 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.
More Ray Dalio Quotes
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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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That’s what I mean by radical truth. I mean accepting reality.
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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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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.
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In the end, what matters most is that the people you work with share your values, so I’ve wanted people who value the meaningful work and meaningful relationships that always motivated me in building Bridgewater.
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Remember that experience creates internalization. Doing things repeatedly leads to internalization, which produces a quality of understanding that is generally vastly superior to intellectualized learning.
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Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
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I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
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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.
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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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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.
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What matters most is that the people you work with share your values.
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When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.
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Radical transparency fosters goodness in so many ways for the same reasons that bad things are more likely to take place behind closed doors.
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I notice a difference from the moment I meditate.
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