People who acquire things beyond their usefulness not only will derive little or no marginal gains from these acquisitions, but they also will experience negative consequences, as with any form of gluttony.
Ray DalioEach person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.
Ray DalioThis is my year of transition from what I'm calling the second phase of my life to the third phase of my life. And I wanted to pass it along. What I mean by that is, in the first days of your life you're dependent on others and you learn. You're basically a kid, depending on your parents. In the second phase of your life, you're working and others are dependent on you and you're trying to be successful. And then when you go to the third phase of your life it's no longer as much of a kick to be successful. There's a natural, instinctual desire to help other people be successful.
Ray DalioI think the greatest tragedy of mankind is that people have ideas and opinions in their heads but don't have a process for properly examining these ideas to find out what's true. That creates a world of distortions.
Ray DalioThe 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 itโs understandable).
Ray DalioMost people have a hard time confronting their weaknesses in a really straightforward, evidence-based way. They also have problems speaking frankly to others. Some people love knowing about their weaknesses and mistakes and those of others because it helps them be so much better, while others can't stand it.
Ray Dalio