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Publisher Description

#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.

GENRE
Business & Personal Finance
NARRATOR
RD
Ray Dalio
LENGTH
16:05
hr min
RELEASED
2017
September 19
PUBLISHER
Simon & Schuster Audio
LANGUAGE
EN
English
SIZE
802.9
MB

Customer Reviews

1_rep_max ,

Should have read the whole thing with his voice

He knows better that to should have had the whole book recited in his own words and emotions, rather than share it with another voice... he did the same thing tony did... and for that, i will not buy their audios again because its a sign of insincerity.

Amaniel M ,

Prudence

According to Merriam-Webster, prudence is "the ability to govern and discipline oneself by the use of reason; sagacity or shrewdness in the management of affairs; skill and good judgment in the use of resources; caution or circumspection as to danger or risk." Ray's book is a crash course in prudence. After almost losing his company Bridgewater in 1982, Dalio became increasingly risk averse in his investment strategies while still allowing for the greatest possible gains. Anchored in the values of radical truth, radical transparency, and open-mindedness, Bridgewater began to flourish as an organization. The book 'Principles' by Ray Dalio describes Bridgewater's dynamic decision-making framework which has practical application in personal and professional life.

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