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I'm scared of people with power making the decision.

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
Decision
Making
Power
People
Scared

More quotes by Ray Dalio

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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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What matters most is that the people you work with share your values.
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I believe that one of the best ways of getting at truth is reflecting with others who have opposing views and who share your interest in finding the truth rather than being proven right
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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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Almost everything is like a machine.
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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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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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Treat your life like a game.
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I notice a difference from the moment I meditate.
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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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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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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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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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Don't worry about looking good - worry about achieving your goals.
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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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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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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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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.
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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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