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Ask yourself whether you have earned the right to have an opinion. Opinions are easy to produce, so bad ones abound. Knowing that you don't know something is nearly as valuable as knowing it. The worst situation is thinking you know something when you don't.

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
Knowing
Investing
Asks
Valuable
Whether
Produce
Easy
Ones
Right
Growth
Abound
Something
Worst
Earned
Thinking
Opinion
Opinions
Life
Situation
Nearly

More quotes by Ray Dalio

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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.
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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.
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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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When people get at each other's throat, the rich and the poor and the Left and the Right and so on, and you have a basic breakdown, that becomes very threatening.
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With the media, we don't know what's true, and we don't have radical transparency because we're seeing everything through somebody else's eyes. There's no other industry that has as much power and as much freedom and as little quality control. I can't imagine how anyone could not think that's a problem.
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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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Look at what caused people to make a lot of money and you will see that usually it is in proportion to their production of what the society wanted.
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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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I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
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To make money in the markets, you have to think independently and be humble.
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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 think it is in the nature of individuals and individual entities not to self-correct.
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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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An economy is not a complicated thing it just has a lot of moving parts.
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There are two main drivers of asset class returns - inflation and growth.
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Like the saying goes, don't believe everything you read.
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Life is like a giant smorgasbord of more delicious alternatives than you can ever hope to taste. So you have to reject having some things you want in order to get other things you want more.
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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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I don't think there is such a thing as the perfect system.
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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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