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Billionaire Ray Dalio is one of the world’s richest hedge fund managers. Here are his best quotes on everything from the markets to meditation.

  • Hedge fund manager Ray Dalio who runs Bridgewater Associates is one of the world’s wealthiest hedge fund managers.
  • Dalio recently said the American dream “does not exist” and capitalism may collapse if leaders don’t act now.

Saloni Sardana, Business Insider

Legendary hedge fund investor Ray Dalio is renowned figure in the world of finance, but is equally famous for his views on life, investing, and much more.

The founder of Bridgewater Associates made a whopping $2 billion last year, the Institutional Investor’s annual Rich List, shows.

Dalio recently said the American dream “does not exist” right now and that if leaders don’t act the whole economic system of capitalism could collapse during the coronavirus-induced recession

Dalio said policymakers needed to take steps to make education available to all and boost incomes for low-income Americans, who have been disproportionately affected by the coronavirus pandemic.

Dalio loves a soundbite, so Markets Insider decided to round up some of his most insightful and interesting quotes. Check them out below:

On philanthropy: “I pay about a third in taxes, I give away about a third, and I follow the law.”

On over-reliance on predictions: “He who lives by the crystal ball will eat shattered glass.”

On trusting your gut: “Do the opposite of what your instincts are.”

On meditating: “Meditation more than anything in my life was the biggest ingredient of whatever success I’ve had.”

On spending: “Pull in your belt, spend less, and reduce debt”

On progress: “Pain + Reflection = Progress”

On debt: “Printing money is the most expedient, least well-understood, and most common big way of restructuring debts. It’s like playing Monopoly in a way where the banker can make more money and redistribute it to everyone when too many of the players are going broke and getting angry.

On economic opportunity: “If you don’t have a situation where people have opportunity, you’re not only failing to tap all the potential that exists, which is uneconomic, you’re threatening the existence of the system, and I think that’s coming to home very clearly with the downturn in the economy with this virus.”

On the value of money: “Remember that the only purpose of money is to get you what you want, so think hard about what you value and put it above money. How much would you sell a good relationship for? There’s not enough money in the world to get you to part with a valued relationship.”

On jobs: “Don’t just pay attention to your job; pay attention to how your job will be done if you are no longer around.”

On the 2020 economic crisis: “This is not a recession; this is a breakdown. You’re seeing the same thing that happened in the 1930s.”

On playing the long-game: “I don’t get caught up in the moment.”

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