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