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 DALIOPeople 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.
More Ray Dalio Quotes
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There is nothing to fear from truth….Being truthful is essential to being an independent thinker and obtaining greater understanding of what is right.
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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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School typically doesn’t prepare young people for real life – unless their lives are spent following instructions and pleasing others. In my opinion, that’s why so many students who succeed in school fail in life.
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An economy is not a complicated thing; it just has a lot of moving parts.
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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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Forget about what the technology is. Just understand the motivation behind it.
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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.
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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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I don’t think individual media outlets will regulate. There are such things as self-regulatory organizations that will look at the members of the industry and their behavior and establish standards of behavior.
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Since the only way you are going to find solutions to painful problems is by thinking deeply about them – i.e., reflecting – if you can develop a knee-jerk reaction to pain that is to reflect rather than to fight or flee, it will lead to your rapid learning/evolving.
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I’ve learned that each mistake was probably a reflection of something that I was (or others were) doing wrong, so if I could figure out what that was, I could learn how to be more effective.
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The more you think you know, the more closed-minded you’ll be.
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Do not feel bad about your mistakes or those of others. Love them! Remember that one: they are to be expected; two: they’re the first and most essential part of the learning process; and three: feeling bad about them will prevent you from getting better.
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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
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There are two main drivers of asset class returns – inflation and growth.
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