I can be stressed, or tired, and I can go into a meditation and it all just flows off of me. I'll come out of it refreshed and centered and that's how I'll feel and it'll carry through the day.
Ray DalioRead
To make money in the markets, you have to think independently and be humble.
Interpretation
Success in the markets requires independent thinking combined with humility.
This quote by Ray Dalio emphasizes the importance of independent thought and humility in achieving success in financial markets. While many are influenced by trends and popular opinions, true success comes from the ability to think critically and make decisions based on one's own analysis, all while remaining humble about the unpredictable nature of the markets.
In practice
During a financial workshop, you might share this quote to inspire participants to trust their analysis.
I can be stressed, or tired, and I can go into a meditation and it all just flows off of me. I'll come out of it refreshed and centered and that's how I'll feel and it'll carry through the day.
There are two main drivers of asset class returns - inflation and growth.
There is a strong tendency to get used to and accept very bad things that would be shocking if seen with fresh eyes.
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 itβs understandable).
Meditation more than anything in my life was the biggest ingredient of whatever success I've had.
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?
It's all about competitiveness: are you making the products that people really do want and value, and are you making it more efficiently and using less resources and less time than the competition?
If I had been playing for money I would have complained a long time ago that I was underpaid.
The best way to succeed in this world is to act on the advice you give to others.
An exceptional company is the one that gets all the little details right.
When you have a challenge and the response is equal to the challenge, that's called 'success'. But once you have a new challenge, the old, once-successful response no longer works. That's why it is called a 'failure'.
Chess continues to advance over time, so the players of the future will inevitably surpass me in the quality of their play, assuming the rules and regulations allow them to play serious chess. But it will likely be a long time before anyone spends 20 consecutive years as number, one as I did.
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