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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.
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
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Society
Money
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More quotes by Ray Dalio
When there is pain, the animal instinct is 'fight or flight' (i.e., to either strike back or run away) - reflect instead. When you can calm yourself down, thinking about the dilemma that is causing you pain will bring you to a higher level and enlighten you, leading to progress.
Ray Dalio
Some people seek to understand, and some people seek to portray what they want to portray.
Ray Dalio
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.
Ray Dalio
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.
Ray Dalio
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
He who lives by the crystal ball will eat shattered glass.
Ray Dalio
An economy is not a complicated thing it just has a lot of moving parts.
Ray Dalio
There are two main drivers of asset class returns - inflation and growth.
Ray Dalio
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.
Ray Dalio
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.
Ray Dalio
Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.
Ray Dalio
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.
Ray Dalio
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.
Ray Dalio
Don't worry about looking good - worry about achieving your goals.
Ray Dalio
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.
Ray Dalio
Demand is best measured in terms of spending. You know, I think in traditional economics, it's a mistake to measure it in terms of the quantity of goods.
Ray Dalio
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.
Ray Dalio
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.
Ray Dalio
If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
Ray Dalio
What matters most is that the people you work with share your values.
Ray Dalio