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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

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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
Future
Payment
Comes
Rates
Investors
Cash
Putting
Rate
Lump
Flow
Lumps
Interest
Investor

More quotes by Ray Dalio

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When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation's lower than expected, bonds go up.
Ray Dalio
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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
Ray Dalio
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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.
Ray Dalio
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I believe that one of the best ways of getting at truth is reflecting with others who have opposing views and who share your interest in finding the truth rather than being proven right
Ray Dalio
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I believe that the biggest problem that humanity faces is an ego sensitivity to finding out whether one is right or wrong and identifying what one's strengths and weaknesses are.
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).
Ray Dalio
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I don't think there is such a thing as the perfect system.
Ray Dalio
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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.
Ray Dalio
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Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
Ray Dalio
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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.
Ray Dalio
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Know what your people are like, and make sure they do their jobs excellently.
Ray Dalio
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He who lives by the crystal ball will eat shattered glass.
Ray Dalio
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People with good work habits have to-do lists that are reasonably prioritized, and they make themselves do what needs to be done. By contrast, people with poor work habits almost randomly react to the stuff that comes at them, or they can't bring themselves to do the things they need to do but don't like to do (or are unable to do).
Ray Dalio
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The media has the power to create an entrenched perception of reality that's incorrect.
Ray Dalio
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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
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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
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Over time, it also became important for me to share my management principles with the people I worked with because we had to agree on how we should be with each other - and that way is unique. Because the logic behind being radically honest and radically transparent with each other wasn't clear, it had to be spelled out in these principles.
Ray Dalio
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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.
Ray Dalio
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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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When there is pain, the animal instinct is 'fight or flight' (i.e., to either strike back or run away) - reflect instead. When you can calm yourself down, thinking about the dilemma that is causing you pain will bring you to a higher level and enlighten you, leading to progress.
Ray Dalio