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The more you think you know, the more closed-minded you’ll be.

Ray Dalio

People 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.
RAY DALIO

Beyond Experience Form Negative People
I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
RAY DALIO

Believe Decision Independent Myself Need Thinking
That’s what I mean by radical truth. I mean accepting reality.
RAY DALIO

Acceptance Myself Radiant Truth
Remember that experience creates internalization. Doing things repeatedly leads to internalization, which produces a quality of understanding that is generally vastly superior to intellectualized learning.
RAY DALIO

Experience Intellectual Leadership Learning Production Quality Remember
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
You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.
RAY DALIO

Assumption Future Hold Strategy Yourself
I believe that dreamers who simply imagine things that would be nice but are not possible don’t sufficiently appreciate the laws of the universe to understand the true implications of their desires, much less how to achieve them.
RAY DALIO

Achievement Believe Desire Dreams Imagination Myself Simplicity Understand
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.
RAY DALIO

Acceptance Comfortable Excellence Game Play Thrill Yourself
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
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.
RAY DALIO

Bad Better Essential Expectation Feeling Learning Mistake Process
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
RAY DALIO

Believe Best Evidence Finding Interest Share Truth Way
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
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.
RAY DALIO

Fall Instruction Life People Reality School Success Typical Young
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.
RAY DALIO

Choice Confusion Creation Impossible People True
An economy is not a complicated thing; it just has a lot of moving parts.
RAY DALIO

Complication Economy Move
Like the saying goes, don’t believe everything you read.
RAY DALIO

Believe Reading Trust Yourself

The more you think you know, the more closed-minded you’ll be.

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The more you think you know, the more closed-minded you’ll be.

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