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When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.

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
Don’t worry about looking good – worry about achieving your goals.
RAY DALIO

Achievement Appearance Goal Goodness Worry
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
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
There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
RAY DALIO

People Potential Special Thinking
If you don’t own Gold, you know neither history nor economics.
RAY DALIO

Economics History Yourself
There are two main drivers of asset class returns – inflation and growth.
RAY DALIO

Class Drive Growth Main Return
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
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
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
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
He who lives by the crystal ball will eat shattered glass.
RAY DALIO

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

Machine One Liner People
Constantly probe the people who report to you, and encourage them to probe you.
RAY DALIO

Encouragement People Yourself
I’ve learned that each mistake was probably a reflection of something that I was (or others were) doing wrong, so if I could figure out what that was, I could learn how to be more effective.
RAY DALIO

Learning Mistake Myself Reflection Wrong

When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.

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When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.

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