54条关于投资与人生的经典名言
"Pain plus reflection equals progress."
— Ray Dalio
"He who lives by the crystal ball will eat shattered glass."
— 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
"Don't bet on any single economic scenario. Diversify your bets across different environments so you always have something working in your favor."查看深度解读 →
"Almost all good and bad outcomes come from the price you pay. Most people's biggest mistake is to not think independently about the value they're getting."查看深度解读 →
"Raising the probability of being right is valuable no matter what your probability already is. I make my decisions based on expected value calculations."查看深度解读 →
"Think of yourself as a machine operating within a machine. A good business is a well-designed machine that produces outcomes consistently."查看深度解读 →
"To be a good investor, you need to understand the economic machine and how each of its parts works together. The economy works like a simple machine."查看深度解读 →
"The most important thing is to have a great culture. An idea meritocracy where the best ideas win creates the most successful organizations."查看深度解读 →
"The biggest mistake investors make is to believe that what happened in the recent past is likely to persist. Being open-minded about what you don't know is the key."查看深度解读 →
"Don't let your ego barrier or blind spot barrier prevent you from seeing things as they really are. Be radically open-minded."查看深度解读 →
"Not all opinions are equally valuable. Weigh the opinions of believable people more heavily — those who have repeatedly succeeded at the thing in question."查看深度解读 →
"Throughout history, economies have gone through long-term and short-term debt cycles. Understanding these cycles helps you understand market psychology and make better decisions."查看深度解读 →
"Pain plus reflection equals progress. The most painful moments in investing teach you the most — if you reflect on them honestly."查看深度解读 →
"When everyone is in agreement, it is almost certain to be wrong. The biggest risks are those that most people don't see coming."查看深度解读 →
"The holy grail of investing is to find 15 or more uncorrelated return streams. This dramatically reduces risk without reducing expected returns."查看深度解读 →
"Make sure your portfolio works in every type of economic environment. Ask yourself: what would happen to my portfolio in an inflationary depression? In a deflationary one?"查看深度解读 →
"Write down your decision-making criteria so you can refine it over time. The best way to make good decisions consistently is to have good principles and follow them systematically."查看深度解读 →
"Rather than trying to pick the best investments, focus on building a portfolio of uncorrelated bets. Each bet should be sized appropriately to risk."查看深度解读 →
"Separate your alpha from your beta. Have a diversified beta portfolio as your foundation, and overlay alpha strategies on top of that."查看深度解读 →
"Don't worry about looking good — worry about achieving your goal. If you're wrong, acknowledge it quickly and move on. The cost of being wrong increases with time."查看深度解读 →
"When things go wrong, diagnose what went wrong by comparing the outcome to your principles. Was it an error in your principles, or an error in following them?"查看深度解读 →
"Judge decisions by the quality of the process, not by the outcome. Good decisions can have bad outcomes, and bad decisions can have good outcomes."查看深度解读 →
"The economy works like a simple machine. Transactions are the building blocks. Credit drives cycles. Productivity growth drives the long-term trend."查看深度解读 →
"Have clear goals, identify problems, diagnose root causes, design solutions, and push through to completion. This five-step process works for any decision."查看深度解读 →
"Radical truth and radical transparency are fundamental. If you agree that a real idea meritocracy is what you want, then you must be willing to be transparently honest."查看深度解读 →
"Think for yourself to decide what you want, what is true, and what to do about it. Principles are fundamental truths that serve as the foundations for behavior."查看深度解读 →
"Truth — more precisely, an accurate understanding of reality — is the essential foundation for producing good outcomes. Don't let what you wish were true stand in the way of seeing what's true."查看深度解读 →
"The key to success lies in knowing how to both strive for a lot and fail well. Adaptation and evolution are the only way to survive long-term."查看深度解读 →
"Your two biggest barriers are your ego barrier and your blind spot barrier. The ego barrier is your subliminal need to be right and your inability to acknowledge weakness."查看深度解读 →
"The big economic cycle is driven by debt. When debt is low and people are cautious, credit grows. When debt is high and people are overextended, credit contracts. This cycle lasts 75-100 years."查看深度解读 →
"A beautiful deleveraging balances deflationary forces with inflationary ones. The key is getting the right mix of austerity, debt restructuring, money printing, and wealth transfers."查看深度解读 →
"Markets reflect collective expectations of the future. To outperform, you need to be more right than the consensus about what will happen."查看深度解读 →
"If you can write down your principles as algorithms, you can test them against history and run them forward. Systemize your principles to make better decisions."查看深度解读 →
"I believe that having principles that work is essential for getting what we want out of life. We need to compare the outcomes we get with our goals to assess our principles."查看深度解读 →
"The power of compounding is extraordinary. Small consistent returns, protected from large drawdowns, compound into extraordinary wealth over decades."查看深度解读 →
"Over long periods, the most important force is evolution — in economies, in markets, and in your own investing ability. Those who evolve survive and thrive."查看深度解读 →
"The most valuable thing about understanding how a company works is understanding its culture and incentives. A culture of radical truth and radical transparency produces the best outcomes."查看深度解读 →
"Judge management by whether they operate by clear principles. Great leaders have strong principles, communicate them clearly, and hold themselves accountable to them."查看深度解读 →
"An idea meritocracy — where the best ideas win regardless of who they come from — creates the strongest organizations. Look for companies where truth wins over hierarchy."查看深度解读 →
"Rather than picking individual stocks based on intuition, use systematic rules tested against historical data. The best investors have systems, not just instincts."查看深度解读 →
"The key to great returns is finding alpha — returns above the market — from multiple uncorrelated sources. Each source of alpha should be independent."查看深度解读 →
"Don't concentrate your investments in one country or currency. The world is interconnected but not perfectly correlated, which creates diversification benefits."查看深度解读 →
"Life is a series of struggles. The key is to struggle well — to find purpose, to keep learning, and to enjoy the journey rather than just the destination."查看深度解读 →
"Meaningful work and meaningful relationships are the most important things in life. Making money is a side effect of pursuing these well."查看深度解读 →
"Nature is a machine that evolves through time. Understanding its patterns helps you understand economics, investing, and life itself."查看深度解读 →
"Don't get lost in the details. Always keep the big picture in mind and prioritize accordingly."查看深度解读 →
"Every time you make a mistake, you should be grateful because you have an opportunity to learn from it and improve."查看深度解读 →
"Structure your portfolio to perform well across all economic environments - growth, recession, inflation, and deflation."查看深度解读 →
"The economy works like a simple machine. Three main forces drive it: productivity growth, short-term debt cycle, and long-term debt cycle."查看深度解读 →
"Use the 5-Step Process to get what you want: 1) Set clear goals, 2) Identify problems, 3) Diagnose root causes, 4) Design solutions, 5) Execute."查看深度解读 →
"Think of life as a machine. If you can understand the cause-effect relationships that govern it, you can improve it."查看深度解读 →
"Make believability-weighted decisions. Not all opinions are equal - weight them by the track record and expertise of the person offering them."查看深度解读 →
"Be radically transparent. Hiding things requires a lot of energy, builds barriers, and makes everyone worse off."查看深度解读 →
"Be radically open-minded. Your ego and blind spots are barriers to seeing reality clearly."查看深度解读 →
"Embrace reality and deal with it. Truth - or, more precisely, an accurate understanding of reality - is the essential foundation for any good outcome."查看深度解读 →
"Pain + Reflection = Progress"查看深度解读 →
"Pain plus reflection equals progress."
我们精选了54条经过验证的Ray Dalio名言，每条都附有出处和深度分析。
Ray Dalio frequently discusses value investing, risk management, and long-term thinking.