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

Ray Dalio

The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it’s silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).
RAY DALIO

Call Choice Harm Pain Problem Solution Understand Yourself
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 DALIO

Evidence Hard Time Mistake People Problem Stand Way Weakness
If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
RAY DALIO

Country Current Decline Interest Rate
There is nothing to fear from truth….Being truthful is essential to being an independent thinker and obtaining greater understanding of what is right.
RAY DALIO

Essential Fear Independent Right Thinking Truth Understand
He who lives by the crystal ball will eat shattered glass.
RAY DALIO

Advice Himself Live Place
Treat your life like a game.
RAY DALIO

Game Life One Liner Treat
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.
RAY DALIO

Easy Hard Remember Success Thinking
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
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
Be wary of the arrogant intellectual who comments from the stands without having played on the field.
RAY DALIO

Arrogant Field Intellectual Play Pride Stand
It’s more important to do big things well than to do small things perfectly.
RAY DALIO

Big Important Inspirational Perfection Small
If you don’t own Gold, you know neither history nor economics.
RAY DALIO

Economics History Yourself
Some people who are creative are not reliable and vice versa; some see big pictures while others see details, etc. All of them are important to have on well-orchestrated teams.
RAY DALIO

Creation People Photograph Team Trust
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.
RAY DALIO

Bad Easy Oneself Opinion Production Right Situation Value Worst
Meditation, more than any other factor, has been the reason for what success I’ve had.
RAY DALIO

Factor Meditation Myself Reason Success
An economy is not a complicated thing; it just has a lot of moving parts.
RAY DALIO

Complication Economy Move

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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