Ray Dalio Quotes

The evolutionary process of productive adaption and ascent — the process of seeking, obtaining, and pursuing more and more ambitious goals — does not just pertain to how individuals and society move forward. It is equally relevant when dealing with setbacks, which are inevitable. At some point in your life you will crash in a big way. You might fail at your job or with your family, lose a loved one, suffer a serious accident or illness, or discover the life you imagined is out of reach forever. There are a whole host of ways that something will get you . At such times, you will be in pain and might think that you don’t have the strength to go on. You almost always do, however; your ultimate success will depend on you realizing that fact, even though it might not seem that way at the moment.

This is why many people who have endured setbacks that seems devastating at the time ended up happy as (or even happier than) they originally were after they successfully adapted to them. The quality of your life will depend on the choices you make at those painful moments. The faster one appropriately adapts, the better. No matter what you want out of life, your ability to adapt and move quickly and efficiently through the process of personal evolution will determine your success and your happiness. If you do it well, you can cahnge your psychological reaction to it so that what was painful can become something you crave.

Para ganar dinero en este mundo, se necesita ser un pensador independiente, ir contracorriente y tener razón, porque la visión consensuada ya venía con todo el lote .

I began to experience painful moments in a radically different way. Instead of feeling frustrated or overwhelmed, I saw pain as nature’s reminder that there is something important for me to learn.

The best way to make great decisions is to know how to triangulate with other, more knowledgeable people.

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

Learn how much confidence to have in your people — don’t assume it. No manager should delegate responsibilities to people they don’t know well.

People who have shared values and principles get along. People who don’t will suffer through constant misunderstandings and conflicts. Think about the people you are closest to: Are their values aligned with yours? Do you even know what their values or principles are? Too often in relationships, people’s principles aren’t clear. This is especially problematic in organizations where people need to have shared principles to be successful. Being crystal clear about my principles is why I labored so much over every sentence in this book.

The word “philanthropy” doesn’t sit well with me in describing what we are doing. What we are doing is helping out with what we care about because of the joy it gives us — like the joy one gets from helping a friend.

no matter what asset class one held, there would come a time when it would lose most of its value. This included cash, which is the worst investment over time because it loses value after adjusting for inflation and taxes.

The most believable opinions are those of people who 1) have repeatedly and successfully accomplished the thing in question, and 2) have demonstrated that they can logically explain the cause-effect relationships behind their conclusions. When believability weighting is done correctly and consistently, it is the fairest and the most effective decision-making system. It not only produces the best outcomes but also preserves alignment, since even people who disagree with the decision will be able to get behind it.

In thoughtful disagreement, both parties are motivated by the genuine fear of missing important perspectives. Exchanges in which you really see what the other person is seeing and they really see what you are seeing — with both your “higher-level yous” trying to get to the truth — are immensely helpful and a giant source of untapped potential.

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.

my belief that having an ability to figure things out is more important than having specific knowledge of how to do something.

Reality, in turn, will send you loud signals about how well your principles are working by rewarding or punishing you, so you will learn to fine- tune them accordingly.

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