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Principles

2018 . Business & Economics, Personal Finance, Leadership . Ray Dalio

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50 total

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43K total

About the book

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#1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press.

Year:

2018

Language:

English

Publisher:

Simon and Schuster

Pages:

592

ISBN:

1982112387 (ISBN13: 9781982112387)

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Reviews

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Morten Veith Schroeder image

2 months ago

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Really insightful book with a lot of wisdom crammed into it! You will get a lot of valuable learnings out of it and i especially enjoyed his recommendations towards life and how to enjoy it! What really stuck with me is this idea of people striving to ‘be happy’ is a futile effort. Instead accept that there will be struggle and learn to struggle well - then you become happy! It reminds me a bit of Buddhist thinking which Dalio is quite inspired by! I have two critique points of the book: (1) Ray Dalio definitely likes the smell of his own farts 💨 A bit too much sometimes! But no doubt he’s an impressive person! (2) He broke the book into a biography of his life and then afterwards a list of all his learnings. I wish he had integrated the two parts more! I always find that theoretical concepts are better taught and remembered when described through real examples! I think this is one of those books that might be better second or third time you read it because there’s just so much information crammed into it!

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Satyajeet Mandale

4 months ago

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Managing time and making decision as per principal calibrations for desirable results. Step by step shown in this book

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Morten Veith Schroeder image

4 months ago

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This is incredibly insightful and really struck home for me. I hope I can learn this one day 😃 “I began to experience painful moments in a radically different way. Instead of getting frustrated and overwhelmed I saw pain as nature’s reminder that there’s something important for me to learn”...”Once I got to know extraordinarily successful people I learned that they all struggled too and are no happier than the rest of us - maybe even less happy. In time I realized that satisfaction doesn’t come from achieving your goals but from struggling well! 🙏

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Kenneth Wright

2 years ago

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Really enjoyable read. Get a lot of insights into the mind of Dalio and his inner workings. It’s ok to fail as long as you learn. Ray has failed a lot in his life, and not afraid to share the pain and experience. Ray has made some big mistakes he had to own completely - but that made him into what he is today within my top 10 of greatest investors/thinkers of our time. A must read I think.

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Morten Veith Schroeder image

4 months ago

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‘Seek out the smartest people that disagree with you’ is a cool advice 👍

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Chelsie Cooper

1 year ago

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This book is Ray Dalios life work. It's a must read.

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Farouk Forster

1 year ago

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What a book.

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Morten Veith Schroeder image

4 months ago

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“Power should lie in the reasoning not in the position of the individual! Best argument wins!” YES 👏

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