262 Quotes by Ray Dalio

The world is still in deleveraging.

Don’t mistake possibilities for probabilities. Anything is possible. It’s the probabilities that matter. Everything must be weighed in terms of its likelihood and prioritized.

You should have a strategic asset allocation mix that assumes that you don’t know what the future is going to hold.

Know what your people are like, and make sure they do their jobs excellently.

What I wanted was to have an interesting, diverse life filled with lots of learning – and especially meaningful work and meaningful relationships. I feel that I have gotten these in abundance and I am happy.

Because our educational system is hung up on precision, the art of being good at approximations is insufficiently valued. This impedes conceptual thinking.

I believe that the biggest problem that humanity faces is an ego sensitivity to finding out whether one is right or wrong and identifying what one’s strengths and weaknesses are.

I have found it helpful to think of my life as if it were a game in which each problem I face is a puzzle I need to solve. By solving the puzzle, I get a gem in the form of a principle that helps me avoid the same sort of problem in the future. Collecting these gems continually improves my decision making, so I am able to ascend to higher and higher levels of play in which the game gets harder and the stakes become ever greater.

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.