Investing Quotes - Page 30

• Success is achieved by people who deeply understand reality and know how to use it to get what they want. The converse is also true: idealists who are not well-grounded in reality create problems, not progress.

  Ray Dalio

  Life, Reality, People

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• I believe there are an infinite number of laws of the universe and that all progress or dreams achieved come from operating in a way that's consistent with them. These laws and the principles of how to operate in harmony with them have always existed. We were given these laws by nature. Man didn't and can't make them up. He can only hope to understand them and use them to get what he wants.

  Ray Dalio

  Life, Dream, Believe

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• I have been very lucky because I have had the opportunity to see what it's like to have little or no money and what it's like to have a lot of it. I'm lucky because people make such a big deal of it and, if I didn't experience both, I wouldn't be able to know how important it really is for me. I can't comment on what having a lot of money means to others, but I do know that for me, having a lot more money isn't a lot better than having enough to cover the basics.

  Ray Dalio

  Life, Mean, Opportunity

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• I believe that our society's "mistake-phobia" is crippling, a problem that begins in most elementary schools, where we learn to learn what we are taught rather than to form our own goals and to figure out how to achieve them. We are fed with facts and tested and those who make the fewest mistakes are considered to be the smart ones, so we learn that it is embarrassing to not know and to make mistakes. Our education system spends virtually no time on how to learn from mistakes, yet this is critical to real learning.

  Ray Dalio

  Life, Mistake, Smart

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• One of the greatest sources of problems in our society arises from people having loads of wrong theories in their heads - often theories that are critical of others - that they won't test by speaking to the relevant people about them. Instead, they talk behind people's backs, which leads to pervasive misinformation.

  Ray Dalio

  Life, People, Growth

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• I learned that everyone makes mistakes and has weaknesses and that one of the most important things that differentiates people is their approach to handling them. I learned that there is an incredible beauty to mistakes, because embedded in each mistake is a puzzle, and a gem that I could get if I solved it, i.e. a principle that I could use to reduce my mistakes in the future.

  Ray Dalio

  Life, Mistake, People

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• Sometimes we forge our own principles and sometimes we accept others' principles, or holistic packages of principles, such as religion and legal systems. While it isn't necessarily a bad thing to use others' principles - it's difficult to come up with your own, and often much wisdom has gone into those already created - adopting pre-packaged principles without much thought exposes you to the risk of inconsistency with your true values.

  Ray Dalio

  Life, Risk, Growth

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• Principles are concepts that can be applied over and over again in similar circumstances as distinct from narrow answers to specific questions. Every game has principles that successful players master to achieve winning results. So does life. Principles are ways of successfully dealing with the laws of nature or the laws of life. Those who understand more of them and understand them well know how to interact with the world more effectively than those who know fewer of them or know them less well.

  Ray Dalio

  Life, Successful, Player

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• Never say anything about a person you wouldn't say to them directly, and don't try people without accusing them to their face. Badmouthing people behind their backs shows a serious lack of integrity and is counterproductive. It doesn't yield any beneficial change, and it subverts both the people you are badmouthing and the environment as a whole.

  Ray Dalio

  Life, Integrity, Yield

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• To test if you are worrying too much about looking good, observe how you feel when you find out you've made a mistake or don't know something.

  Ray Dalio

  Life, Mistake, Worrying Too Much

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• Don't be a perfectionist, because perfectionists often spend too much time on little differences at the margins at the expense of other big, important things. Be an effective imperfectionist. Solutions that broadly work well (e.g., how people should contact each other in the event of crises) are generally better than highly specialized solutions (e.g., how each person should contact each other in the event of every conceivable crisis).

  Ray Dalio

  Life, Differences, People

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• People who excel at book learning tend to call up from memory what they have learned in order to follow stored instructions. Others who are better at internalized learning use the thoughts that flow from their subconscious. The experienced skier doesn't recite instructions on how to ski and then execute them; rather, he does it well "without thinking," in the same way he breathes without thinking. Understanding these differences is essential.

  Ray Dalio

  Life, Memories, Book

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• It is a law of nature that you must do difficult things to gain strength and power. As with working out, after a while you make the connection between doing difficult things and the benefits you get from doing them, and you come to look forward to doing these difficult things.

  Ray Dalio

  Life, Law, Work Out

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• Ironically, people who suppress the mini-confrontations for fear of conflict tend to have huge conflicts later, which can lead to separation, precisely because they let minor problems fester. On the other hand, people who address the mini-conflicts head-on in order to straighten things out tend to have the great, long-lasting relationships.

  Ray Dalio

  Life, Hands, Order

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• When there is pain, the animal instinct is 'fight or flight' (i.e., to either strike back or run away) - reflect instead. When you can calm yourself down, thinking about the dilemma that is causing you pain will bring you to a higher level and enlighten you, leading to progress.

  Ray Dalio

  Life, Running, Pain

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• Ask yourself whether you have earned the right to have an opinion. Opinions are easy to produce, so bad ones abound. Knowing that you don't know something is nearly as valuable as knowing it. The worst situation is thinking you know something when you don't.

  Ray Dalio

  Life, Thinking, Knowing

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

  Ray Dalio

  Life, Growth, Answers

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• 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

  Ray Dalio

  Life, Running, Successful

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• I could see that making judgments about people so that they are tried and sentenced in your head, without asking them for their perspective, is both unethical and unproductive. So I learned to love real integrity and to despise the lack of it.

  Ray Dalio

  Life, Integrity, Real

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• 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.

  Ray Dalio

  Life, Mistake, Reflection

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• Remember that experience creates internalization. Doing things repeatedly leads to internalization, which produces a quality of understanding that is generally vastly superior to intellectualized learning.

  Ray Dalio

  Life, Understanding, Growth

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• The only thing I do know is that from chaos comes opportunity.

  Daniel S. Loeb

  Opportunity, Chaos, Financial

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• Market-cap based indexing will never be driven from its deserved perch as core and deserved king of the investment world. It is what we should all own in theory and it has delivered low-cost equity returns to a great mass of investors... the now and forever king-of-the-hill.

  Cliff Asness

  Kings, Forever, World

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• This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.

  Alan Greenspan

  People, Abnormal, May

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• Successful people are usually more lively than those who are unsuccessful. The quickening of the spirit they feel comes out of their creativity, and success detaches them from the more rigid outlook on life - it puts them in the flow. So the shakers and movers, by their very nature, are moving faster, taking more risks, and investing more in the world than their less active counterparts.

  Stuart Wilde

  Success, Moving, Creativity

  Stuart Wilde (1998). “The Trick to Money is Having Some”, p.52, Hay House, Inc

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