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The big question is: When will the term structure of interest rates change? That’s the question to be worried about.

Ray Dalio

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
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
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
In return, society rewards those who give it what it wants. That is why how much money people have earned is a rough measure of how much they gave society what it wanted.
RAY DALIO

Measurement Money People Return Rough Society
Meditation, more than any other factor, has been the reason for what success I’ve had.
RAY DALIO

Factor Meditation Myself Reason Success
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
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
Though how nature works is way beyond man’s ability to comprehend, I have found that observing how nature works offers innumerable lessons that can help us understand the realities that affect us.
RAY DALIO

Affect Beyond Lesson Nature Understand Way Work
Everyone has to decide for themselves what works for them and their organization.
RAY DALIO

Decision Organization Work
Since 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.
RAY DALIO

Development Leadership Learning Pain Problem Solution Way Yourself
There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes.
RAY DALIO

Desire Excellence Money Oneself Society
Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
RAY DALIO

Life Live Principle Value Yourself
I think so many people are reactive… they see things in a short term way they’re right up against it.
RAY DALIO

Myself People Reaction Right Thinking
In the end, what matters most is that the people you work with share your values, so I’ve wanted people who value the meaningful work and meaningful relationships that always motivated me in building Bridgewater.
RAY DALIO

End Motivational People Relationship Share Value Work
To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
RAY DALIO

Best Decision Independent Need Success Thinking
To make money in the markets, you have to think independently and be humble.
RAY DALIO

Business Humble Independent Marketing Money Thinking 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 you’re centered, your emotions are not hijacking you.
RAY DALIO

Emotion Spiritual Aware Yourself
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
The best advice I can give you is to ask yourself what do you want, then ask ‘what is true’ – and then ask yourself ‘what should be done about it.’ I believe that if you do this you will move much faster towards what you want to get out of life than if you don’t!
RAY DALIO

Advice Believe Best Life True Yourself
I’m going to give away a lot more than half my money. I’d be happy to give that to the government if the government put together programs that were like I’m giving away to charity, in which I believe the money is effectively used to help people.
RAY DALIO

Believe Government Happiness Help Money Myself People
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
Some people seek to understand, and some people seek to portray what they want to portray.
RAY DALIO

People Seek Understand
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
Look at what caused people to make a lot of money and you will see that usually it is in proportion to their production of what the society wanted.
RAY DALIO

Money People Production Society Warning
What matters most is that the people you work with share your values.
RAY DALIO

People Share Value Work Yourself
The media has the power to create an entrenched perception of reality that’s incorrect.
RAY DALIO

Creation Media Perception Power True

The big question is: When will the term structure of interest rates change? That’s the question to be worried about.

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The big question is: When will the term structure of interest rates change? That’s the question to be worried about.

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Popular Authors

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