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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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Ray Dalio
Age: 75
Born: 1949
Born: August 8
Businessman
Hedge Fund Manager
Investor
Jackson Heights
Queens
Raymond Dalio
Raymond Thomas Dalio
Allow
Principles
Values
Action
Live
Life
Connect
Consistent
Actions

More quotes by Ray Dalio

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I notice a difference from the moment I meditate.
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Nature is a machine. The family is a machine. The life cycle is like a machine.
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Be wary of the arrogant intellectual who comments from the stands without having played on the field.
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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.
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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 think the industry can probably self-correct without regulation, but I don't believe an individual outlet can regulate itself.
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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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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'd like to be clear that a number of people find me intolerable, and they don't hesitate to say so - which they and I cherish.
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By and large, life will give you what you deserve and it doesn't give a damn what you like. So it is up to you to take full responsibility to connect what you want with what you need to do to get it, and then to do those things.
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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 it is in the nature of individuals and individual entities not to self-correct.
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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.
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An economy is not a complicated thing it just has a lot of moving parts.
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Some people who are creative are not reliable and vice versa some see big pictures while others see details, etc. All of them are important to have on well-orchestrated teams.
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There are two main drivers of asset class returns - inflation and growth.
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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.
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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.
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When you're centered, your emotions are not hijacking you.
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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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