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.
RAY DALIOAlmost everything is like a machine.
More Ray Dalio Quotes
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Almost everything is like a machine.
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Successful people ask for the criticism of others and consider its merit.
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Once you accept that playing the game will be uncomfortable, and you do it for a while, it will become much easier (like it does when getting fit). When you excel at it, you will find your ability to get what you want thrilling.
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There are two main drivers of asset class returns – inflation and growth.
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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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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!
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What matters most is that the people you work with share your values.
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It’s more important to do big things well than to do small things perfectly.
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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.
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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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Everyone has to decide for themselves what works for them and their organization.
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Be wary of the arrogant intellectual who comments from the stands without having played on the field.
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To make money in the markets, you have to think independently and be humble.
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People who confuse what they wish were true with what is really true create distorted pictures of reality that make it impossible for them to make the best choices.
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That’s what I mean by radical truth. I mean accepting reality.
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