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

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

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About Ray Dalio

Raymond Thomas Dalio (born August 8, 1949) is an American investor, billionaire, author, and hedge fund manager, who founded Bridgewater Associates in 1971.

Biography information from Wikiquote

Also Known As

Alternative Names: Raymond Dalio Raymond Thomas Dalio
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Additional quotes by Ray Dalio

From very early on, whenever I took a position in the markets, I wrote down the criteria I used to make my decision. Then, when I closed out a trade, I could reflect on how well these criteria had worked. It occurred to me that if I wrote those criteria into formulas (now more fashionably called algorithms) and then ran historical data through them, I could test how well my rules would have worked in the past. Here’s how it worked in practice: I would start out with my intuitions as I always did, but I would express them logically, as decision-making criteria, and capture them in a systematic way, creating a mental map of what I would do in each particular situation. Then I would run historical data through the systems to see how my decision would have performed in the past and, depending upon the results, modify the decision rules appropriately.

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