Quotes from Ray Dalio

Successful people ask for the criticism of others and consider its merit.

People who confuse what they wish were true with what is really true create distorted pictures of reality that make it impossible for them to make the best choices.

There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes.

There are far more good answers "out there" than there are in you.

Treat your life like a game.

Watch out for people who think it's embarrassing not to know.

There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people

I'm going to give away a lot more than half my money. I'd be happy to give that to the government if the government put together programs that were like I'm giving away to charity, in which I believe the money is effectively used to help people.

There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.

I think so many people are reactive... they see things in a short term way they're right up against it.

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.

Meditation more than anything in my life was the biggest ingredient of whatever success I've had.

Meditation, more than any other factor, has been the reason for what success I've had.

I believe that understanding what is good is obtained by looking at the way the world works and figuring out how to operate in harmony with it to help it evolve.

I've learned that each mistake was probably a reflection of something that I was (or others were) doing wrong, so if I could figure out what that was, I could learn how to be more effective.

When you think that it's too hard, remember that in the long run, doing the things that will make you successful is a lot easier than being unsuccessful

He who lives by the crystal ball will eat shattered glass.

I think that the first thing is you should have a strategic asset allocation mix that assumes that you don't know what the future is going to hold.

If it didn't happen in your life before, then you're not paying attention you don't think it's possible. But almost all important events never happen in your life before.

So how does the machine work that you have a financial crisis? How does deleveraging work - what is the nature of that machine? And what is human nature, and how do you raise a community of people to run a business?

I pay about a third in taxes, I give away about a third, and I follow the law.

There is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That's a beautiful deleveraging.

It all comes down to interest rates. As an investor, all you're doing is putting up a lump-sump payment for a future cash flow.

If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.