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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.

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
Thinking
Correct
Industry
Probably
Individual
Without
Regulate
Self
Outlet
Believe
Outlets
Think
Regulation

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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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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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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Know what your people are like, and make sure they do their jobs excellently.
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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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You'll see that excuses like That's not easy are of no value and that it pays to push through it at a pace you can handle. Like getting physically fit, the most important thing is that you keep moving forward at whatever pace you choose, recognizing the consequences of your actions.
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There are two main drivers of asset class returns - inflation and growth.
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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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Like the saying goes, don't believe everything you read.
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One of the greatest sources of problems in our society arises from people having loads of wrong theories in their heads - often theories that are critical of others - that they won't test by speaking to the relevant people about them. Instead, they talk behind people's backs, which leads to pervasive misinformation.
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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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Be wary of the arrogant intellectual who comments from the stands without having played on the field.
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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.
Ray Dalio
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The media has the power to create an entrenched perception of reality that's incorrect.
Ray Dalio
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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
Ray Dalio
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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.
Ray Dalio
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The world is still in deleveraging.
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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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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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