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Over time, it also became important for me to share my management principles with the people I worked with because we had to agree on how we should be with each other - and that way is unique. Because the logic behind being radically honest and radically transparent with each other wasn't clear, it had to be spelled out in these principles.

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
Time
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Management
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More quotes by Ray Dalio

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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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When you're centered, your emotions are not hijacking you.
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If you have the power to see things through somebody else's eyes, it's like going from black and white to color or two dimensions to three dimensions.
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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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Don't worry about looking good - worry about achieving your goals.
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Like the saying goes, don't believe everything you read.
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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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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 media has the power to create an entrenched perception of reality that's incorrect.
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I'm just saying that if you understand how the economic machine works, it just works like a machine. There are cause-effect relationships.
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The world is still in deleveraging.
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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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The more you think you know, the more closed-minded you'll be.
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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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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.
Ray Dalio
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Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.
Ray Dalio
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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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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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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.
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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