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School typically doesn't prepare young people for real life - unless their lives are spent following instructions and pleasing others. In my opinion, that's why so many students who succeed in school fail in life.

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
Young
Failing
Pleasing
Many
Students
Instruction
Real
Unless
Prepare
Life
Opinion
Investing
People
Lives
Fail
Doesn
Following
Others
Spent
Instructions
School
Succeed
Typically

More quotes by Ray Dalio

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Treat your life like a game.
Ray Dalio
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For every mistake that you learn from you will save thousands of similar mistakes in the future, so if you treat mistakes as learning opportunities that yield rapid improvements you should be excited by them. But if you treat them as bad things, you will make yourself and others miserable, and you won't grow.
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Don't worry about looking good - worry about achieving your goals.
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There are two main drivers of asset class returns - inflation and growth.
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Everyone has to decide for themselves what works for them and their organization.
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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.
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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 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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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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Constantly probe the people who report to you, and encourage them to probe you.
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Life is like a giant smorgasbord of more delicious alternatives than you can ever hope to taste. So you have to reject having some things you want in order to get other things you want more.
Ray Dalio
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Look at what caused people to make a lot of money and you will see that usually it is in proportion to their production of what the society wanted.
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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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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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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.
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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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I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
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The most important thing you can have is a good strategic asset allocation mix. So, what the investor needs to do is have a balanced, structured portfolio – a portfolio that does well in different environments…. we don't know that we're going to win. We have to have diversified bets.
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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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