'Pain + Reflection = Progress': Here are 13 brilliant quotes from hedge-fund legend Ray Dalio
In an interview with Business Insider CEO Henry Blodget in September 2017, Dalio said:"The average man tends to be much more reactive if you look at the purchases and sales that they make. When something goes up, they're more likely to buy it. They think, ah, that's a good investment.
He added:"That's what they're attracted to. They tend to buy high and sell low, and so an average man should not be playing this game in that way ...""In order to be successful, you're betting against the consensus, and you have to be right," Dalio said during the interview with Business Insider CEO Henry Blodget in September 2017.
He said:"The consensus is built into the price. So because the consensus is built into the price, and assets price themselves in a way that they're all competing, and they're all of equal value in a certain sense. There's risk premium of equities over cash and bonds will have that over whatever, but basically, they're all priced that way. So like think of it as going to betting on a sports team or in other words, or horse racing.
"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."
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