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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.

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
Experience
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Acquire
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Investing
Acquisitions
Littles
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Marginal
Little
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Gluttony
Things
Negative
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Life
Beyond
Usefulness
People
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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.
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An economy is not a complicated thing it just has a lot of moving parts.
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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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Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?
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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.
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School typically doesn't prepare young people for real life - unless their lives are spent following instructions and pleasing others. In my opinion, that's why so many students who succeed in school fail in life.
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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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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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A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
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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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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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Almost everything is like a machine.
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I don't think there is such a thing as the perfect system.
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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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Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.
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He who lives by the crystal ball will eat shattered glass.
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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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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.
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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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