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.
Ray DalioWe wouldn't be successful if we didn't have independent thinkers who can argue and then resolve their arguments.
Ray DalioThe big question is: When will the term structure of interest rates change? That's the question to be worried about.
Ray Dalio