To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
RAY DALIOSince 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.
More Ray Dalio Quotes
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I think so many people are reactive… they see things in a short term way they’re right up against it.
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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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When you’re faced with a choice, you have one of three choices that you can have. You can have those with power decide. You can have one man, one vote. Or you can have believability-weighted decision-making.
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I believe that we all get rewarded and punished according to whether we operate in harmony or in conflict with nature’s laws, and that all societies will succeed or fail in the degrees that they operate consistently with these laws.
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When 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.
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Watch out for people who think it’s embarrassing not to know.
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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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He who lives by the crystal ball will eat shattered glass.
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Like the saying goes, don’t believe everything you read.
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It’s more important to do big things well than to do small things perfectly.
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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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Some people seek to understand, and some people seek to portray what they want to portray.
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Don’t worry about looking good – worry about achieving your goals.
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Almost everything is like a machine.
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The more you think you know, the more closed-minded you’ll be.
RAY DALIO