The main reason I write the daily observations is because I want to know where I'm wrong. So lots of times if somebody points something out it helps me, and I want to have a diversified bet of uncorrelated bets.
Ray DalioI have a bad rote memory, but I tend to learn through my experiences. And then when I went into the markets, and then starting my business as an entrepreneur, that affected my thinking a lot, too, because in order to be successful as both an investor and an entrepreneur, one has to be an independent thinker and bet against the consensus and be right. Because the consensus is built into the price, and if you're not an independent thinker in the markets you won't succeed. And if you're not an independent thinker as an entrepreneur starting out, you're not going to bring anything special.
Ray DalioI think the President of the United States must operate by rules. I think our judicial system must operate by the rules. You have to operate by the rules of the system, and if you don't, if you pull rank, then you lose all your credibility.
Ray DalioI believe that one of the best ways of getting at truth is reflecting with others who have opposing views and who share your interest in finding the truth rather than being proven right
Ray Dalio