The happiest people discover their own nature and match their life to it.
—Ray Dalio
The greatest gift you can give someone is the power to be successful. Giving people the opportunity to struggle rather than giving them the things they are struggling for will make them stronger.
—Ray Dalio
The more you think you know, the more closed-minded you’ll be.
—Ray Dalio
Some people go through life collecting all kinds of observations and opinions like pocket lint, instead of just keeping what they need. They have “detail anxiety,” worrying about unimportant things.
—Ray Dalio
Remember that the only purpose of money is to get you what you want, so think hard about what you value and put it above money. How much would you sell a good relationship for? There’s not enough money in the world to get you to part with a valued relationship.
—Ray Dalio
Choose your habits well. Habit is probably the most powerful tool in your brain’s toolbox.
—Ray Dalio
The most valuable habit I’ve acquired is using pain to trigger quality reflections. If you can acquire this habit yourself, you will learn what causes your pain and what you can do about it, and it will have an enormous impact on your effectiveness.
—Ray Dalio
Remember that in great partnerships, consideration and generosity are more important than money.
—Ray Dalio
The people who work for you should constantly challenge you,
—Ray Dalio
Topics: Life
Imagine that in order to have a great life you have to cross a dangerous jungle. You can stay safe where you are and have an ordinary life, or you can risk crossing the jungle to have a terrific life. How would you approach that choice? Take a moment to think about it because it is the sort of choice that, in one form or another, we all have to make.
—Ray Dalio
Beware of statements that begin with “I think that …” Just because someone thinks something doesn’t mean it’s true.
—Ray Dalio
Managers who do not understand people’s different thinking styles cannot understand how the people working for them will handle different situations.
—Ray Dalio
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.
—Ray Dalio
Watch out for people who confuse goals and tasks, because if they can’t make that distinction, you can’t trust them with responsibilities.
—Ray Dalio
Every leader must decide between 1) getting rid of liked but incapable people to achieve their goals and 2) keeping the nice but incapable people and not achieving their goals. Whether or not you can make these hard decisions is the strongest determinant of your own success
—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.
—Ray Dalio
Look for people who have lots of great questions. Smart people are the ones who ask the most thoughtful questions, as opposed to thinking they have all the answers. Great questions are a much better indicator of future success than great answers.
—Ray Dalio
Topics: Control, Life, Ideas
When a problem occurs, conduct the discussion at two levels: 1) the machine level (why that outcome was produced) and 2) the case-at-hand level (what to do about it).
—Ray Dalio
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.
—Ray Dalio
Heroes inevitably experience at least one very big failure that tests whether they have the resilience to come back and fight smarter and with more determination.
—Ray Dalio
If you can’t successfully do something, don’t think you can tell others how it should be done
—Ray Dalio
The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it’s silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).
—Ray Dalio
Principles are fundamental truths that serve as the foundations for behavior that gets you what you want out of life. They can be applied again and again in similar situations to help you achieve your goals.
—Ray Dalio
Being radically truthful and transparent with your colleagues and expecting your colleagues to be the same with you ensures that important issues are apparent instead of hidden. It also enforces good behavior and good thinking, because when you have to explain yourself, everyone can openly assess the merits of your logic.
—Ray Dalio
If you’re not failing, you’re not pushing your limits, and if you’re not pushing your limits, you’re not maximizing your potential
—Ray Dalio
Time is like a river that carries us forward into encounters with reality that require us to make decisions. We can’t stop our movement down this river and we can’t avoid those encounters. We can only approach them in the best possible way.
—Ray Dalio
Find the most believable people possible who disagree with you and try to understand their reasoning. Having open-minded conversations with believable people who disagree with you is the quickest way to get an education and to increase your probability of being right.
—Ray Dalio
Every time you confront something painful, you are at a potentially important juncture in your life—you have the opportunity to choose healthy and painful truth or unhealthy but comfortable delusion.
—Ray Dalio
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.
—Ray Dalio
Truth – more precisely, an accurate understanding of reality – is the essential foundation for producing good outcomes.
—Ray Dalio
Wondering Whom to Read Next?
- Warren Buffett American Investor
- Charlie Munger American Investor, Philanthropist
- Mohnish Pabrai Indian-American Investor, Philanthropist
- Henry R. Kravis American Businessman
- Peter Thiel American Entrepreneur
- Jesse Lauriston Livermore American Investor
- T. Boone Pickens American Businessman, Financier
- Sheryl Sandberg American Executive, Author
- Richard Rainwater American Investor
- Benjamin Graham American Investor
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