Ray Dalio Quotes

Having the basics — a good bed to sleep in, good relationships, good food, and good sex — is most important, and those things don’t get much better when you have a lot of money or much worse when you have less. And the people one meets at the top aren’t necessarily more special than those one meets at the bottom or in between.

Remember that the only purpose of money is to get you what you want, so think hard about what you value and put it above money. How much would you sell a good relationship for? There’s not enough money in the world to get you to part with a valued relationship.

Make sure they're fully informed and believable. Find out who is responsible for whatever you are seeking to understand and then ask them. Listening to uninformed people is worse than having no answers at all.

Some decisions are best made after acquiring more information; some are best made immediately.

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.

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.

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

Our brains work like computers: They input data and process it in accordance with their wiring and programming. Any opinion you have is made up of these two things: the data and your processing or reasoning

You don’t want the people you work with to merely pay lip service

there are two broad approaches to decision making: evidence/logic-based (which comes from the higher- level brain) and subconscious/emotion-based (which comes from the lower-level animal brain).

Great people are hard to find so make sure you think about how to keep them.

Every time you confront something painful, you are at a potentially important juncture in your life — you have the opportunity to choose healthy and painful truth or unhealthy but comfortable delusion.

In my early years the psychology of the 1960s U.S. was aspirational and inspirational — to achieve great and noble goals. It was like nothing I have seen since. One of my earliest memories was of John F. Kennedy, an intelligent, charismatic man who painted vivid pictures of changing the world for the better — exploring outer space, achieving equal rights, and eliminating poverty. He and his ideas had a major effect on my thinking. The United States was then at its peak relative to the rest of the world, accounting for 40 percent of its economy compared to about 20 percent today; the dollar was the world’s currency; and the U.S. was the dominant military power. Being “liberal” meant being committed to moving forward in a fast and fair way, while being “conservative” meant being stuck in old and unfair ways — at least that’s how it seemed to me and to most of the people around me. As we saw it, the U.S. was rich, progressive, well managed, and on a mission to improve quickly at everything. I might have been naive but I wasn’t alone.

I saw that to do exceptionally well you have to push your limits and that, if you push your limits, you will crash and it will hurt a lot. You will think you have failed — but that won’t be true unless you give up.

nature optimizes for the whole, not for the individual, but most people judge good and bad based only on how it affects them.