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Forget about what the technology is. Just understand the motivation behind it.

Ray Dalio

It all comes down to interest rates. As an investor, all you’re doing is putting up a lump-sump payment for a future cash flow.
RAY DALIO

Flow Future Interest Investment Pay Rate
There are two main drivers of asset class returns – inflation and growth.
RAY DALIO

Class Drive Growth Main Return
Radical transparency fosters goodness in so many ways for the same reasons that bad things are more likely to take place behind closed doors.
RAY DALIO

Bad Goodness Hide Place Radiant Reason
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
More than anything else, what differentiates people who live up to their potential from those who don’t is a willingness to look at themselves and others objectively.
RAY DALIO

Live Object People Potential Willing
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
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
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
When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.
RAY DALIO

Beginning Intelligence Learning Party Potential
Meditation, more than any other factor, has been the reason for what success I’ve had.
RAY DALIO

Factor Meditation Myself Reason Success
Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIO

Encouragement People Yourself
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.
RAY DALIO

Choice Decision Face Man Vote Yourself
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
The main reason I write the daily observations is because I want to know where I’m wrong. So lots of times if somebody points something out it helps me, and I want to have a diversified bet of uncorrelated bets.
RAY DALIO

Help Myself Observation Reason Writing Wrong
There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.
RAY DALIO

Acceptance Bad Eyes See Strong
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.
RAY DALIO

Balance Beautiful Drama Money Option Printing Word

Forget about what the technology is. Just understand the motivation behind it.

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Forget about what the technology is. Just understand the motivation behind it.

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Popular Authors

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