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Quote by Ray Dalio

“The economy is like a machine.”

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Ray Dalio, born in 1949, is a renowned American businessman, investor, and the founder of Bridgewater Associates, one of the world's largest hedge funds. He is known for his unique investment philosophy and successful corporate management. more

“The biggest mistake investors make is to believe that what happened in the recent past is likely to persist. They assume that something that was a good investment in the recent past is still a good investment. Typically, high past returns simply imply that an asset has become more expensive and is a poorer, not better, investment.”

Believe Stills Past Mistake Happened Return Assuming Investment Investing Expensive Assets Investors Persist Biggest Mistake Recent Past

Author:Ray Dalio

“The most important thing you can have is a good strategic asset allocation mix. So, what the investor needs to do is have a balanced, structured portfolio – a portfolio that does well in different environments…. we don't know that we're going to win. We have to have diversified bets.”

Knows Needs Wells Doe Important Different Winning Environment Important Things Assets Investors Balanced Strategic Portfolios Allocation Asset Allocation Different Environments

Author:Ray Dalio

“I believe that dreamers who simply imagine things that would be nice but are not possible don’t sufficiently appreciate the laws of the universe to understand the true implications of their desires, much less how to achieve them.”

Believe Would Be Law Desire Universe I Believe Nice Imagine Achieve Appreciate Dreamer Being Nice Implications

Author:Ray Dalio

“Meditation more than anything in my life was the biggest ingredient of whatever success I've had.”

Meditation Ingredients

Author:Ray Dalio

“I was happier when pursuing success than I was when savoring its fruits; the attraction, perhaps the addiction, was in the process, as much as in its end.”

Ends Process Fruit Addiction Attraction Savoring

Author:Michael Steinhardt

“When your views are truly contrarian, they are inevitably uncomfortable. Courage and the ability to withstand pain are required.”

Pain Ability Views Uncomfortable

Author:Michael Steinhardt

“Time and again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only [bonds], you can almost close your eyes and [buy] stocks.”

World Want Eye Emotion Extremes Cycles Investors

Author:Michael Steinhardt

“Good investing is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake.”

Made Ideas Mistake Balance Investing Conviction Peculiar Flexibility Made A Mistake

Author:Michael Steinhardt

“The balance between confidence and humility is best learned through extensive experience and mistakes.”

Mistake Humility Balance

Author:Michael Steinhardt

Quote by Ray Dalio

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