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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
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Littles
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Marginal
Little
Consequence
Gluttony
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What matters most is that the people you work with share your values.
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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.
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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 believe that dreamers who simply imagine things that would be nice but are not possible don’t sufficiently appreciate the laws of the universe to understand the true implications of their desires, much less how to achieve them.
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The more you think you know, the more closed-minded you'll be.
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I think the industry can probably self-correct without regulation, but I don't believe an individual outlet can regulate itself.
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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.
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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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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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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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To make money in the markets, you have to think independently and be humble.
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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.
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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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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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When you're centered, your emotions are not hijacking you.
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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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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.
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The biggest mistake investors make is to believe that what happened in the recent past is likely to persist. They assume that something that was a good investment in the recent past is still a good investment. Typically, high past returns simply imply that an asset has become more expensive and is a poorer, not better, investment.
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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.
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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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