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Be wary of the arrogant intellectual who comments from the stands without having played on the field.

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
Played
Fields
Wary
Intellectual
Comments
Without
Arrogant
Life
Comment
Stands
Investing
Field

More quotes by 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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He who lives by the crystal ball will eat shattered glass.
Ray Dalio
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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.
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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I think if you look at the statistics and you deal with fake media - and fake media and distorted media is a continuum - the vast majority of the population says, I don't know what to believe. There are no checks and balances in quality control.
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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You'll see that excuses like That's not easy are of no value and that it pays to push through it at a pace you can handle. Like getting physically fit, the most important thing is that you keep moving forward at whatever pace you choose, recognizing the consequences of your actions.
Ray Dalio
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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
Ray Dalio
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Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?
Ray Dalio
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The more you think you know, the more closed-minded you'll be.
Ray Dalio
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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.
Ray Dalio
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Constantly probe the people who report to you, and encourage them to probe you.
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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Like the saying goes, don't believe everything you read.
Ray Dalio
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Nature is a machine. The family is a machine. The life cycle is like a machine.
Ray Dalio
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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.
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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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.
Ray Dalio
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With the media, we don't know what's true, and we don't have radical transparency because we're seeing everything through somebody else's eyes. There's no other industry that has as much power and as much freedom and as little quality control. I can't imagine how anyone could not think that's a problem.
Ray Dalio
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Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.
Ray Dalio