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Hollis Johnson/Business Insider

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.

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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:

Read more:Famed economist David Rosenberg says investors are falling into a classic market trap that's historically preceded a further meltdown - and warns 'there's not going to be much of a recovery'


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

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Bloomberg TV

Source: New York Times


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

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REUTERS/Maxim Shemetov

Source: CNBC

Read more:Billionaire investor Mario Gabelli's flagship fund has delivered a 3,082% return since its inception. He told us his 13 favorite stocks right now - and the trends he's betting on for a post-coronavirus world.


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

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Roy Rochlin/Getty Images

Source: The Motley Fool


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

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Reuters / Ruben Sprich

Source: Medium

Read more:Bank of America says a new bubble may be forming in the stock market - and shares a cheap strategy for protection that is 'significantly' more profitable than during the past 10 years


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

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Brian Snyder/Reuters

Source: Barron's


On progress: "Pain + Reflection = Progress"

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Hollis Johnson/Business Insider

Source: Business Insider

Read more:David Herro was the world's best international stock-picker for a decade straight. He breaks down 8 stocks he bet on after the coronavirus decimated markets - and 3 he sold.


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.

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Roy Rochlin/Getty Images

Source: Bloomberg


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."

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Hollis Johnson

Source: Business Insider

Read more:A part-time real-estate investor quit his traditional job 5 years after snagging his first deal. He shares his no-hassle strategy that's allowed him to travel the world with his 6 kids.


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."

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Hollis Johnson/Business Insider

Source: His Facebook page


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."

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REUTERS/Ruben Sprich

Source: Ray Dalio Principles

Read more:GOLDMAN SACHS: Buy these 25 stocks that are wildly popular with hedge funds - and have crushed the market this year


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."

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Hollis Johnson/Business Insider

Source: Forbes


On playing the long-game: "I don't get caught up in the moment."

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Getty Images / Roy Rochlin

Source: CNBC