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Imagine if you had baseball cards that showed all the performance stats for your people: batting averages, home runs, errors, ERAs, win/loss records. You could see what they did well and poorly and call on the right people to play the right positions in a very transparent way.

Ray Dalio

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Ray Dalio
Age: 75
Born: 1949
Born: August 8
Businessman
Hedge Fund Manager
Investor
Jackson Heights
Queens
Raymond Dalio
Raymond Thomas Dalio
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Imagine
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Poorly
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Averages

More quotes by Ray Dalio

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There are two main drivers of asset class returns - inflation and growth.
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I think the President of the United States must operate by rules. I think our judicial system must operate by the rules. You have to operate by the rules of the system, and if you don't, if you pull rank, then you lose all your credibility.
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I think the industry can probably self-correct without regulation, but I don't believe an individual outlet can regulate itself.
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One of the greatest sources of problems in our society arises from people having loads of wrong theories in their heads - often theories that are critical of others - that they won't test by speaking to the relevant people about them. Instead, they talk behind people's backs, which leads to pervasive misinformation.
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Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.
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If you have the power to see things through somebody else's eyes, it's like going from black and white to color or two dimensions to three dimensions.
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If it didn't happen in your life before, then you're not paying attention you don't think it's possible. But almost all important events never happen in your life before.
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I think the basic problem is that everybody thinks they know what the truth is, and sometimes they're even distorting the truth to make their arguments.
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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.
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When people get at each other's throat, the rich and the poor and the Left and the Right and so on, and you have a basic breakdown, that becomes very threatening.
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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.
Ray Dalio
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I have found that by looking at what is rewarded and punished, and why, universally - i.e., in nature as well as in humanity - I have been able to learn more about what is good and bad than by listening to most people's views about good and bad.
Ray Dalio
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There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people
Ray Dalio
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Ask yourself whether you have earned the right to have an opinion. Opinions are easy to produce, so bad ones abound. Knowing that you don't know something is nearly as valuable as knowing it. The worst situation is thinking you know something when you don't.
Ray Dalio
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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
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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).
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We don't know what truth is anymore. You or other media people can say there's no problem, but you're losing your credibility. There's distortion, and it's hurting our society. And as a result of that, there will be forces that, one way or another, are going to naturally bring that into equilibrium.
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I don't get caught up in the moment.
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The more you think you know, the more closed-minded you'll be.
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Don't worry about looking good - worry about achieving your goals.
Ray Dalio