262 Quotes by Ray Dalio

Never say anything about someone that you wouldn’t say to them directly and don’t try people without accusing them to their faces.

Truth – more precisely, an accurate understanding of reality – is the essential foundation for producing good outcomes.

Great people are hard to find so make sure you think about how to keep them.

An economy is not a complicated thing; it just has a lot of moving parts.

In China anything less than 6% growth is a recession meaning that it also causes financial problems and it’s disruptive and it’s a problem.

Train, guardrail, or remove people; don’t rehabilitate them.

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.

You’ll see that excuses like “That’s not easy” are of no value and that it pays to “push through it” at a pace you can handle. Like getting physically fit, the most important thing is that you keep moving forward at whatever pace you choose, recognizing the consequences of your actions.

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.