“By and large, is the level in which you need to understand most things in order to make effective decisions. 

Whenever a big picture by in large statement is made and someone replies “not always” my instinctual reaction is that we’re probably about to dive into the weeds; that is a discussion of the exceptions rather than the rule and in the process we will lose site of the rule. 

To help people at Bridgewater avoid this time-waster, I often repeat this coined phrase: When you ask someone whether something is true and they tell you that it’s not totally true, it’s probably by in large true.”

- Ray Dalio