262 Quotes by Ray Dalio

Our brains work like computers: They input data and process it in accordance with their wiring and programming. Any opinion you have is made up of these two things: the data and your processing or reasoning.

What you will be will depend on the perspective you have.

Remember that everyone has opinions and they are often bad. Opinions are easy to produce; everyone has plenty of them and most people are eager to share them – even to fight for them. Unfortunately many are worthless or even harmful, including a lot of your own.

A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.

There are two main drivers of asset class returns - inflation and growth.

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 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.

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.

Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?