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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

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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
Bonds
Inflation
Lower
Expected
Growth
Higher
Slower
Stocks

More quotes by Ray Dalio

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If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.
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To make money in the markets, you have to think independently and be humble.
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I think it is in the nature of individuals and individual entities not to self-correct.
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The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it's silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).
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What matters most is that the people you work with share your values.
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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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Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
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Like the saying goes, don't believe everything you read.
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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.
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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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The more you think you know, the more closed-minded you'll be.
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Ironically, people who suppress the mini-confrontations for fear of conflict tend to have huge conflicts later, which can lead to separation, precisely because they let minor problems fester. On the other hand, people who address the mini-conflicts head-on in order to straighten things out tend to have the great, long-lasting relationships.
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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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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.
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Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.
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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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I'd like to be clear that a number of people find me intolerable, and they don't hesitate to say so - which they and I cherish.
Ray Dalio
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For me, the best things in life - meaningful work, meaningful relationships, interesting experiences, good food, sleep, music, ideas, sex, and other basic needs and pleasures - are not, past a certain point, materially improved upon by having a lot of money.
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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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I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
Ray Dalio