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To make money in the markets, you have to think independently and be humble.

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
Make
Think
Thinking
Independently
Markets
Humble
Money

More quotes by 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.
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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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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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As Harvard developmental psychologist Robert Kegan, who has studied Bridgewater, says, in most work places everyone is working two jobs. The first is whatever their actual job is the second consists of managing others' impressions of them, especially by hiding weaknesses and inadequacies - which is an enormous waste of energy.
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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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Forget about what the technology is. Just understand the motivation behind it.
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Know what your people are like, and make sure they do their jobs excellently.
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I believe that one of the best ways of getting at truth is reflecting with others who have opposing views and who share your interest in finding the truth rather than being proven right
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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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When you're centered, your emotions are not hijacking you.
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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 don't think there is such a thing as the perfect system.
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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I don't get caught up in the moment.
Ray Dalio
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When people get at each other's throat, the rich and the poor and the Left and the Right and so on, and you have a basic breakdown, that becomes very threatening.
Ray Dalio
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There are two main drivers of asset class returns - inflation and growth.
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We don't know what truth is anymore. You or other media people can say there's no problem, but you're losing your credibility. There's distortion, and it's hurting our society. And as a result of that, there will be forces that, one way or another, are going to naturally bring that into equilibrium.
Ray Dalio
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To test if you are worrying too much about looking good, observe how you feel when you find out you've made a mistake or don't know something.
Ray Dalio
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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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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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