Ray Dalio Quotes

a healthy fear of being wrong and figured out an approach to decision making that would maximize my odds of being right.

Getting a lot of attention for being successful is a bad position to be in.

You don’t achieve happiness by getting rid of your problems – you achieve it by learning from them.

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

If you limit your goals to what you know you can achieve, you are setting the bar way too low.

Don’t let fears of what others think of you stand in your way. You must be willing to do things in the unique ways you think are best

d. In designing your organization, remember that the 5-Step Process is the path to success and that different people are good at different steps. Assign specific people to do each of these steps based on their natural inclinations. For example, the big-picture visionary should be responsible for goal setting, the taste tester should be assigned the job of identifying and not tolerating problems, the logical detective who doesn’t mind probing people should be the diagnoser, the imaginative designer should craft the plan to make the improvements, and the reliable taskmaster should make sure the plan gets executed. Of course, some people can do more than one of these things — generally people do two or three well. Virtually nobody can do them all well. A team should consist of people with all of these abilities and they should know who is responsible for which steps.

Truth - more precisely, an accurate understanding of reality - is the essential foundation for producing good outcomes.

While I used to get angry and frustrated at people because of the choices they made, I came to realize that they weren’t intentionally acting in a way that seemed counterproductive; they were just living out things as they saw them, based on how their brains worked.

If you want to have a community of people who have both high-quality, long-term relationships and a high sense of personal responsibility, you can’t allow a sense of entitlement to creep in.

Reflect and remind yourself that an accurate criticism is the most valuable feedback you can receive.

Most people who haven’t had direct contact with the leadership of their own and other countries form their views based on what they learn in the media, and become quite naive and inappropriately opinionated as a result. That’s because dramatic stories and gossip draw more readers and viewers than does clinical objectivity. Also, in some cases “journalists” have their own ideological biases that they are trying to advance. As a result, most people who see the world through the lens of the media tend to look for who is good and who is evil rather than what the vested interests and relative powers are and how they are being played out. For example, people tend to embrace stories about how their own country is moral and the rival country is not, when most of the time these countries have different interests that they are trying to maximize. The best behaviors one can hope for come from leaders who can weigh the benefits of cooperation, and who have long enough time frames that they can see how the gifts they give this year may bring them benefits in the future.

Remember that people are built very differently and that different ways of seeing and thinking make people suitable for different jobs.

if everyone understood the basics, then economic policymakers would be able to do the right things a lot faster and with less angst in the future. That led me to make a thirty-minute video, How the Economic Machine Works, which I released in 2013. Besides explaining how the economy works it provides a template that helps people assess their economies and gives them guidance about what to do and what to expect during a crisis.

You could have all the money you’ve ever wanted, a successful career, and be in good physical health, but without loving relationships, you won’t be happy . . . The good life is built with good relationships.