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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.

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
Desire
Achieve
Understand
Simply
Dreamers
True
Imagine
Sufficiently
Much
Nice
Implications
Believe
Possible
Dreamer
Things
Law
Desires
Would
Less
Appreciate
Universe
Laws

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.
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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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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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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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An economy is not a complicated thing it just has a lot of moving parts.
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There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people
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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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Constantly probe the people who report to you, and encourage them to probe you.
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I think the greatest tragedy of mankind is that people have ideas and opinions in their heads but don't have a process for properly examining these ideas to find out what's true. That creates a world of distortions.
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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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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 world is still in deleveraging.
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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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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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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).
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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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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.
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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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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 don't get caught up in the moment.
Ray Dalio