Ray Dalio Quotes

Heroes inevitably experience at least one very big failure that tests whether they have the resilience to come back and fight smarter and with more determination.

Truth — or, more precisely, an accurate understanding of reality — is the essential foundation for any good outcome.

satisfaction of success doesn’t come from achieving your goals, but from struggling well.

As David Eagleman describes it in his wonderful book Incognito: Your brain is built of cells called neurons and glia — hundreds of billions of them. Each one of them is as complex as a city. . . . The cells [neurons] are connected in a network of such staggering complexity that it bankrupts human language and necessitates new strains of mathematics. A typical neuron makes about ten thousand connections to neighboring neurons. Given billions of neurons, this means that there are as many connections in a single cubic centimeter of brain tissue as there are stars in the Milky Way galaxy.

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. The high school yearbook quote my friends chose for me was from Thoreau: “If a man does not keep pace with his companions, perhaps it is because he hears a different drummer. Let him step to the music which he hears, however measured or far away.

the mistake of spending virtually no time on designing because they are preoccupied with execution. Remember: Designing precedes doing!

While in the past I would encounter problems, figure out their causes, and design my own ways to get around them, others who think differently than I do will make different diagnoses and designs. My job as mentor was to help them be successful at that.

"I. Utilize the "two-minute rule" to avoid persistent interruptions. The two-minute rule specifies that you have to give someone an uninterrupted two minutes to explain their thinking before jumping in with your own. This ensures that everyone has time to fully crystallize and communicate their thoughts without worrying they will be misunderstood or drowned out by a louder voice.
j. Watch out for assertive "fast talkers." Fast talkers are people who articulately and assertively say things faster than they can be assessed as a way of pushing their agenda past other people's examination or objections. Fast talking can be especially effective when it's used against people worried about appearing stupid. Don't be one of those people. Recognize that it's your responsibility to make sense of things and don't move on until you do. If you're feeling pressured, say something like "Sorry for being stupid, but I'm going to need to slow you down so I can make sense of what you're saying." Then ask your questions. All of them. p367"

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?

Know what types of mistakes are acceptable and what types are unacceptable, and don’t allow the people who work for you to make the unacceptable ones.

To be effective you must not let your need to be right be more important than your need to find out what’s true. If you are too proud of what you know or of how good you are at something you will learn less, make inferior decisions, and fall short of your potential.

Liberal” had ceased to mean being in favor of progress and had come to mean “paying people not to work.

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.

Managers who do not understand people's different thinking styles cannot understand how the people working for them will handle different situations.

The biggest mistake most people make is to not see themselves and others objectively, which leads them to bump into their own and others’ weaknesses again and again. People who do this fail because they are stubbornly stuck in their own heads.