Ray Dalio Quotes of Life Principle
First principle: • Think for yourself to decide 1) what you want, 2) what is true, and 3) what you should do to achieve #1 in light of #2 . . . . . . and do that with humility and open-mindedness so that you consider the best thinking available to you.
Time is like a river that carries us forward into encounters with reality that require us to make decisions. We can’t stop our movement down this river and we can’t avoid those encounters. We can only approach them in the best possible way.
It’s more important to do big things well than to do the small things perfectly.
I just want to be right—I don’t care if the right answer comes from me.
If you can’t successfully do something, don’t think you can tell others how it should be done.
Truth – more precisely, an accurate understanding of reality – is the essential foundation for producing good outcomes.
It is far more common for people to allow ego to stand in the way of learning.
Having the basics—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.
Meditate. I practice Transcendental Meditation and believe that it has enhanced my open-mindedness, higher-level perspective, equanimity, and creativity. It helps slow things down so that I can act calmly even in the face of chaos, just like a ninja in a street fight. I’m not saying that you have to meditate in order to develop this perspective; I’m just passing along that it has helped me and many other people and I recommend that you seriously consider exploring it.
I learned that if you work hard and creatively, you can have just about anything you want, but not everything you want. Maturity is the ability to reject good alternatives in order to pursue even better ones.
"If you’re not failing, you’re not pushing your limits, and if you’re not pushing your limits, you’re not maximizing your potential."
Best Quotes of Ray Dalio about Life and Work Principle:
Principles are fundamental truths that serve as the foundations for behavior that gets you what you want out of life. They can be applied again and again in similar situations to help you achieve your goals.
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.
Remember that most people are happiest when they are improving and doing the things that suit them naturally and help them advance. So learning about your people’s weaknesses is just as valuable (for them and for you) as is learning their strengths.”
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.
Listening to uninformed people is worse than having no answers at all.
Because our educational system is hung up on precision, the art of being good at approximations is insufficiently valued. This impedes conceptual thinking.
Nature gave us pain as a messaging device to tell us that we are approaching, or that we have exceeded, our limits in some way.”
Look for people who have lots of great questions. Smart people are the ones who ask the most thoughtful questions, as opposed to thinking they have all the answers. Great questions are a much better indicator of future success than great answers.
My approach was to hire, train, test, and then fire or promote quickly, so that we could rapidly identify the excellent hires and get rid of the ordinary ones, repeating the process again and again until the percentage of those who were truly great was high enough to meet our needs.
The greatest gift you can give someone is the power to be successful. Giving people the opportunity to struggle rather than giving them the things they are struggling for will make them stronger.
Remember that in great partnerships, consideration and generosity are more important than money.
“I believe that basically everything is another one of those. In other words, almost everything happens over and over and over again in history.”
Mistakes are part of the process and everybody has weaknesses
One of the things that I’ve learned over the years is that many surprises come because things that happen as surprises never happened in one’s lifetime before
The greatest people I know have weaknesses and have become successful because they know how to compensate for the weaknesses. The stupidest/least successful people I know are people who don’t own up to those weaknesses and grow.
Pain plus reflection equals progress.
Taking the emotions out of investing is a real, real plus.
If the future can be different from the past and you don’t have a deep understanding, you should not rely on AI.
Creative genius is at the end of insanity.”
Psychology is a big deal in the markets.
Don’t let something that has never been done before stand in the way of you doing that particular thing, because almost the only way you understand what truth is, is through experimentation.
What’s common produces only common results.
Ray Dalio is an American billionaire investor and a hedge fund manager. He is also a founder of Bridgewater Associates, one of the largest’s hedge funds.
Dalio is also the author of the self-published book ‘Principles: Life & Work‘ in which he discusses his takeaways about life and work. It was named New York Times No. 1 Best-seller and Amazon’s No. 1 Business Book of 2017. Currently, he is writing the second volume of the book named ‘Principles: Economics & Investing’.
Dalio is also a philanthropist and has vowed to donate more than half of his fortune to charitable causes in his lifetime. Through the Dalio Foundation, he has donated to the David Lynch Foundation, to polio eradication projects. He has also supported the Fund for Teachers, an initiative supporting professional learning fellowships for teachers.
In 2019, Dalio was named one of the highest-earning hedge fund managers and traders by Forbes. In 2020, Bloomberg ranked him as the world’s 79th wealthiest person.