#1 NEW YORK TIMES BESTSELLER * 5 MILLION COPIES SOLD
“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.
Fascinating and Thought Provoking
I can’t recommend Ray Dalio’s books enough. Anyone in management or leadership of any kind could benefit from his principles. Take those you like, pocket those you don’t. As a Naval Officer, I’ve enjoyed folding his approach into my leadership style.
A must read
It doesn’t matter how you feel about the author, this is information that every human being needs to hear.
As Stated, Principles for Life and Work.
Anyone can greatly benefit from Rays lessons. The species would probably be a lot more culturally progressed and in synch if these principles were applied. Ray explains how autocracies and democracies are both inefficient systems, and produce sub-par results. Ray’s principles for implementing idea meritocratic systems are an essential read for understanding the brain’s operations in human interaction, applying everywhere from inter-marital conflicts to corporate strategy. Rays principles for life are key to understanding one’s self and implementing systems to develop into a more self-aware and compendious person. The work principles and examples are crucial for implementing a more comprehensive system of communication and accountability, for any entrepreneur, business owner or managing leader. Overall, would give ray’s book a 10/10 for the corporate sector, and a 9.5/10 for life application. 5-Stars overall. This one really knocked it out of the park.