Principles: Life and Work

by Ray Dalio

out what is best for you to do, and if you can summon up the courage to do it, you will make the most of your life.

Make believability-weighted decisions.

Time is like a river that carries us forward into encounters with reality that require us to make decisions.

Check out this quote.

We are all born with different thinking abilities but we aren’t born with decision-making skills.

We are all born with different thinking abilities but we aren’t born with decision-making skills.

great is better than terrible, and terrible is better than mediocre, because terrible at least gives life flavor.

Some people want to change the world and others want to operate in simple harmony with it and savor life. Neither is better. Each of us needs to decide what we value most and choose the paths we take to achieve it.

None of us is born knowing what is true; we either have to discover what’s true for ourselves or believe and follow others. The key is to know which path will yield better results.

Don’t let fears of what others think of you stand in your way. You must be willing to do things in the unique ways you think are best—

and can’t help reflecting on how it works by observing,

Don’t get hung up on your views of how things “should” be because you will miss out on learning how they really are.

Evolve or die.

the need to have meaningful work is connected to man’s innate desire to improve.

“no pain, no gain.” Realizing that we innately want to evolve—and that the other stuff we are going after, while nice, won’t sustain our happiness

It is a fundamental law of nature that in order to gain strength one has to push one’s limits, which is painful. As Carl Jung put it, “Man needs difficulties. They are necessary for health.”

There is no avoiding pain, especially if you’re going after ambitious goals.

Most people have a tough time reflecting when they are in pain and they pay attention to other things when the pain passes, so they miss out on the reflections that provide the lessons. If you can reflect well while you’re in pain (which is probably too much to ask), great. But if you can remember to reflect after it passes, that’s valuable too.

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