Quote

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

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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
Life
Nature
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Power
Benefits
Look
Forward
Come
Strength
Looks
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Working
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I think if you look at the statistics and you deal with fake media - and fake media and distorted media is a continuum - the vast majority of the population says, I don't know what to believe. There are no checks and balances in quality control.
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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.
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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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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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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
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He who lives by the crystal ball will eat shattered glass.
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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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Do not feel bad about your mistakes or those of others. Love them! Remember that one: they are to be expected two: they're the first and most essential part of the learning process and three: feeling bad about them will prevent you from getting better.
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I'm scared of people with power making the decision.
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Don't worry about looking good - worry about achieving your goals.
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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.
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Like the saying goes, don't believe everything you read.
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The media has the power to create an entrenched perception of reality that's incorrect.
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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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Everyone has to decide for themselves what works for them and their organization.
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By and large, life will give you what you deserve and it doesn't give a damn what you like. So it is up to you to take full responsibility to connect what you want with what you need to do to get it, and then to do those things.
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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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The most important thing you can have is a good strategic asset allocation mix. So, what the investor needs to do is have a balanced, structured portfolio – a portfolio that does well in different environments…. we don't know that we're going to win. We have to have diversified bets.
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