Ray Dalio Quotes

Close-minded people have trouble holding two thoughts simultaneously in their minds. They allow their own view to crowd out those of others.
Open-minded people can take in the thoughts of others without losing their ability to think well- they can hold two or more conflicting concepts in their mind and go back and forth between them to assess their relative merits. p197

by. The worst thing you can be is a phony, because if you’re a phony you will lose people’s trust and your own self-respect.

Remember that in great partnerships, consideration and generosity are more important than money.

Remember that weaknesses don’t matter if you find solutions.

the happiest people discover their own nature and match their life to it.

Don’t get distracted by shiny objects

To understand what is coming at you, you need to understand what happened before you.

Imagine that in order to have a great life you have to cross a dangerous jungle. You can stay safe where you are and have an ordinary life, or you can risk crossing the jungle to have a terrific life. How would you approach that choice? Take a moment to think about it because it is the sort of choice that, in one form or another, we all have to make.

Aprendí que si uno trabaja con ahínco y creatividad, puede conseguir casi cualquier cosa que se proponga, pero no todo lo que desee. La madurez reside en la capacidad de rechazar buenas alternativas para perseguir otras aún mejores.

Much as I loved the job and the people I worked with, I didn’t fit into the Shearson organization. I was too wild. For example, as a joke that now seems pretty stupid, I hired a stripper to drop her cloak while I was lecturing at a whiteboard at the California Grain & Feed Association’s annual convention. I also punched my boss in the face. Not surprisingly, I was fired. But the brokers, their clients, and even the ones who fired me liked me and wanted to keep getting my advice. Even better, they were willing to pay me for it, so in 1975 I started Bridgewater Associates.

Look for people who have lots of great questions. Smart people are the ones who ask the most thoughtful questions, as opposed to thinking they have all the answers. Great questions are a much better indicator of future success than great answers.

Closed-minded people are more likely to make statements than ask questions.

Remember the 80/20 Rule and know what the key 20 percent is. The 80/20 Rule states that you get 80 percent of the value out of something from 20 percent of the information or effort. (It’s also true that you’re likely to exert 80 percent of your effort getting the final 20 percent of value.) Understanding this rule saves you from getting bogged down in unnecessary detail once you’ve gotten most of the learning you need to make a good decision.

I also feared boredom and mediocrity much more than I feared failure. For me, great is better than terrible, and terrible is better than mediocre, because terrible at least gives life flavor.

Don’t worry about looking good; worry about achieving your goal.