262 Quotes by Ray Dalio

If you don’t own Gold, you know neither history nor economics.

Keep your strategic vision the same while making appropriate tactical changes as circumstances dictate.

One thing that leaders should not do, in my opinion, is be manipulative.

My painful mistakes shifted me from having a perspective of “I know I’m right” to having one of “How do I know I’m right?

Focus more on making the pie bigger than on exactly how to slice it.

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.

While I used to get angry and frustrated at people because of the choices they made, I came to realize that they weren’t intentionally acting in a way that seemed counterproductive; they were just living out things as they saw them, based on how their brains worked.

Life is like a giant smorgasbord of more delicious alternatives than you can ever hope to taste. So you have to reject having some things you want in order to get other things you want more.

Assess believability by systematically capturing people’s track records over time. Every day is not a new day. Over time, a body of evidence builds up, showing which people can be relied on and which cannot. Track records matter, and at Bridgewater tools such as Baseball Cards and the Dot Collector make everyone’s track records available for scrutiny.