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

More quotes by Ray Dalio

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When you're centered, your emotions are not hijacking you.
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I'm scared of people with power making the decision.
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I don't get caught up in the moment.
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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.
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Know what your people are like, and make sure they do their jobs excellently.
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An economy is not a complicated thing it just has a lot of moving parts.
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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.
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It is a law of nature that you must do difficult things to gain strength and power. As with working out, after a while you make the connection between doing difficult things and the benefits you get from doing them, and you come to look forward to doing these difficult things.
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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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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 treasure the fact there's media freedom, but with that goes responsibility. I think that there should be a self-regulatory organization and that they should start to think about standards. Because I think a lot of people say, I don't know how to read what is true versus somebody else's interpretation.
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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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There are two main drivers of asset class returns - inflation and growth.
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A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
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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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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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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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To make money in the markets, you have to think independently and be humble.
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The more you think you know, the more closed-minded you'll be.
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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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