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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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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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More quotes by Ray Dalio
The media has the power to create an entrenched perception of reality that's incorrect.
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
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
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.
Ray Dalio
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
Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.
Ray Dalio
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
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
For every mistake that you learn from you will save thousands of similar mistakes in the future, so if you treat mistakes as learning opportunities that yield rapid improvements you should be excited by them. But if you treat them as bad things, you will make yourself and others miserable, and you won't grow.
Ray Dalio
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.
Ray Dalio
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.
Ray Dalio
Forget about what the technology is. Just understand the motivation behind it.
Ray Dalio
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.
Ray Dalio
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.
Ray Dalio
If you have the power to see things through somebody else's eyes, it's like going from black and white to color or two dimensions to three dimensions.
Ray Dalio
I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
Ray Dalio
You'll see that excuses like That's not easy are of no value and that it pays to push through it at a pace you can handle. Like getting physically fit, the most important thing is that you keep moving forward at whatever pace you choose, recognizing the consequences of your actions.
Ray Dalio
Nature is a machine. The family is a machine. The life cycle is like a machine.
Ray Dalio
Constantly probe the people who report to you, and encourage them to probe you.
Ray Dalio
Like the saying goes, don't believe everything you read.
Ray Dalio