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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

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
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
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
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
I think meditation has been the single biggest reason for whatever success Ive had.
RAY DALIO

Meditation Myself Success Thinking
Success is achieved by people who deeply understand reality and know how to use it to get what they want. The converse is also true: idealists who are not well-grounded in reality create problems, not progress.
RAY DALIO

Achievement Creation Ideal Problem Progress Reality Success True Understand
Some people seek to understand, and some people seek to portray what they want to portray.
RAY DALIO

People Seek Understand
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
Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIO

Encouragement People Yourself
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
It’s more important to do big things well than to do small things perfectly.
RAY DALIO

Big Important Inspirational Perfection Small
There is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That’s a beautiful deleveraging.
RAY DALIO

Beautiful Growth Positive Slow Speed Time
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
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
He who lives by the crystal ball will eat shattered glass.
RAY DALIO

Advice Himself Live Place
Almost everything is like a machine.
RAY DALIO

Machine One Liner People

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.

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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.

Related Topics

Popular Authors

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