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The media has the power to create an entrenched perception of reality that’s incorrect.

Ray Dalio

I think so many people are reactive… they see things in a short term way they’re right up against it.
RAY DALIO

Myself People Reaction Right Thinking
I think the greatest tragedy of mankind is that people have ideas and opinions in their heads but don’t have a process for properly examining these ideas to find out what’s true. That creates a world of distortions.
RAY DALIO

Creation Greatness Kind Man Myself Thinking Tragedy World
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
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
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.
RAY DALIO

Development Leadership Learning Pain Problem Solution Way Yourself
Competitiveness is really what it costs you per man-hour to get you what you want. In other words, there’s an education level that plays into the mix and so if it’s inexpensive to buy an hour of real good education in places like China versus the U.S., that factors in.
RAY DALIO

Competition Cost Education Factor Goodness Place Reality Word
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

Bond Expectation Growth Investment Marketing Slow
Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIO

Encouragement People Yourself
People who worry about looking good typically hide what they don’t know and hide their weaknesses, so they never learn how to properly deal with them and these weaknesses remain impediments in the future.
RAY DALIO

Future Goodness Hide People Proper Weakness Worry
There are two main drivers of asset class returns – inflation and growth.
RAY DALIO

Class Drive Growth Main Return
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.
RAY DALIO

Deal Difficult Disappear Face Hard Problem Yourself
Watch out for people who think it’s embarrassing not to know.
RAY DALIO

Embarrass People Thinking
Demand is best measured in terms of spending. You know, I think in traditional economics, it’s a mistake to measure it in terms of the quantity of goods.
RAY DALIO

Demand Measurement Mistake Myself Quantity Tradition
An economy is not a complicated thing; it just has a lot of moving parts.
RAY DALIO

Complication Economy Move
Forget about what the technology is. Just understand the motivation behind it.
RAY DALIO

Forget Motivational Technology Understand
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 DALIO

Gold Market Money Opportunity Price Way

The media has the power to create an entrenched perception of reality that’s incorrect.

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The media has the power to create an entrenched perception of reality that’s incorrect.

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