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There are two main drivers of asset class returns - inflation and growth.

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
Asset
Class
Two
Returns
Inflation
Drivers
Assets
Main
Return
Growth

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Forget about what the technology is. Just understand the motivation behind it.
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Ironically, people who suppress the mini-confrontations for fear of conflict tend to have huge conflicts later, which can lead to separation, precisely because they let minor problems fester. On the other hand, people who address the mini-conflicts head-on in order to straighten things out tend to have the great, long-lasting relationships.
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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.
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I do think people need to recognize that a lot of journalists want to write a story a certain way because the story will be better or the portrayal will be better, or at least recognize that whenever you're looking at something, you're seeing it through somebody's eyes who may actually not be the person who is the most insightful.
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Almost everything is like a machine.
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People who acquire things beyond their usefulness not only will derive little or no marginal gains from these acquisitions, but they also will experience negative consequences, as with any form of gluttony.
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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'm just saying that if you understand how the economic machine works, it just works like a machine. There are cause-effect relationships.
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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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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.
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Nature gave us pain as a messaging device to tell us that we are approaching, or that we have exceeded, our limits in some way.
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The biggest mistake investors make is to believe that what happened in the recent past is likely to persist. They assume that something that was a good investment in the recent past is still a good investment. Typically, high past returns simply imply that an asset has become more expensive and is a poorer, not better, investment.
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Nature is a machine. The family is a machine. The life cycle is like a machine.
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I don't think there is such a thing as the perfect system.
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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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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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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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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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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.
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I don't get caught up in the moment.
Ray Dalio