You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.
RAY DALIODon’t worry about looking good – worry about achieving your goals.
More Ray Dalio Quotes
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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.
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I think the greatest tragedy of mankind is that people have ideas and opinions in their heads but don’t have a process for properly examining these ideas to find out what’s true. That creates a world of distortions.
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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.
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Almost everything is like a machine.
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An economy is not a complicated thing; it just has a lot of moving parts.
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To be successful, we need everyone to think independently and work through disagreement to decide what’s best.
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Like the saying goes, don’t believe everything you read.
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Watch out for people who think it’s embarrassing not to know.
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Meditation helps you stay in a calm, clear-headed state so that when challenges come at you, you can deal with them like a ninja – in a calm thoughtful way. When you’re centered, your emotions are not hijacking you.
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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.
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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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I don’t think individual media outlets will regulate. There are such things as self-regulatory organizations that will look at the members of the industry and their behavior and establish standards of behavior.
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Over the long run, the price of gold approximates the total amount of money in circulation divided by the size of the gold stock. If the market price of gold moves a long way from this level, it may indicate a buying or selling opportunity.
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When you’re centered, your emotions are not hijacking you.
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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.
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Constantly probe the people who report to you, and encourage them to probe you.
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There are two main drivers of asset class returns – inflation and growth.
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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.
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There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
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I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
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Meditation, more than any other factor, has been the reason for what success I’ve had.
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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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I notice a difference from the moment I meditate.
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Everyone has to decide for themselves what works for them and their organization.
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By and large, life will give you what you deserve and it doesn’t give a damn what you like. So it is up to you to take full responsibility to connect what you want with what you need to do to get it, and then to do those things.
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Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
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