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.
RAY DALIOAlmost everything is like a machine.
More Ray Dalio Quotes
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Success is achieved by people who deeply understand reality and know how to use it to get what they want. The converse is also true: idealists who are not well-grounded in reality create problems, not progress.
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The more you think you know, the more closed-minded you’ll be.
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Meditation, more than any other factor, has been the reason for what success I’ve had.
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Everyone has to decide for themselves what works for them and their organization.
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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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The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it’s silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).
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There are two main drivers of asset class returns – inflation and growth.
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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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Though how nature works is way beyond man’s ability to comprehend, I have found that observing how nature works offers innumerable lessons that can help us understand the realities that affect us.
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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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There is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That’s a beautiful deleveraging.
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That’s what I mean by radical truth. I mean accepting reality.
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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.
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Like the saying goes, don’t believe everything you read.
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I think meditation has been the single biggest reason for whatever success Ive had.
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