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The more you think you know, the more closed-minded you'll be.

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
Thinking
Minded
Closed
Investing
Think

More quotes by Ray Dalio

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Constantly probe the people who report to you, and encourage them to probe you.
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To make money in the markets, you have to think independently and be humble.
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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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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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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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I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
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Everyone has to decide for themselves what works for them and their organization.
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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 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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When you think that it's too hard, remember that in the long run, doing the things that will make you successful is a lot easier than being unsuccessful
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There is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That's a beautiful deleveraging.
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Since the only way you are going to find solutions to painful problems is by thinking deeply about them - i.e., reflecting - if you can develop a knee-jerk reaction to pain that is to reflect rather than to fight or flee, it will lead to your rapid learning/evolving.
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He who lives by the crystal ball will eat shattered glass.
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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.
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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 basic problem is that everybody thinks they know what the truth is, and sometimes they're even distorting the truth to make their arguments.
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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.
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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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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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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