Principles

Principles

Book - 2017
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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.
Publisher: New York :, Simon and Schuster,, 2017
Edition: First Simon & Schuster hardcover edition
ISBN: 9781501124020
Characteristics: xviii, 567 pages : illustrations ; 24 cm

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d
dixithanoop
Dec 27, 2019

Needless to say, one of the finest books I've read on business that was also equally inspiring. This book by Bridgewater Associates's founder and CEO Ray Dalio was on my to-read list for a long time.

The book is divided into many sections, some related to his career and life in general, and others related to his principles. Unfortunately, since I'm not a fan of pedantic teaching, I only hovered upon the sections that spoke about principles strictly, thereby not doing justice to the name of the book itself.

However, the part that fascinated me the most, and which I reread more than once, was the first section of the book where the author describes his ascent to the top of the world, starting from scratch. His stories about making business mistakes of all kinds, losing money, being reduced to just two people at Bridgewater (him and Coleman), borrowing money from his dad - in author's own words, these experiences were like a series of blows to the head with a baseball bat. Despite all that, persistence is finally what took Bridgewater to where it is now. That, teaches a lot more than theoretical principles.

Many of the factual incidents about silver speculation, stories about his oil friends, his All Weather fund etc are extraordinarily mesmerizing. Accounts of his personal life, with four sons, amidst of all the Bridgewater chaos are truly inspiring as well.

Overall, this high expectation book didn't fail to entertain, and I wouldn't mind keeping the book as a reference.

e
ele81946
May 14, 2019

This is a great book for like minded people. It may come across as another DIY self improvement, however it is not for most people.

Ray is very generous in making the content available free as an Apple App. I like the case studies.

m
mo_moe
Apr 17, 2019

I hope ppl imitate Ray's ideas. We need to save the earth first of all. Right now it is the only planet we inhabit. humanss need to do better!

l
Leppa
Apr 08, 2019

Today, this book is available, with video examples, for newer iPhones/iPads. (Ray tweeted they are working on an Android version to release later.) On the iPhones/iPads open "App Store" and search for "Principles in Action" by Ray Dalio.

xiv "To be a successful entrepreneur ...: One also has to be an independent thinker who correctly bets against the consensus, which means being painfully wrong a fair amount."

---20

j
Jeremylc
Apr 02, 2018

This book is crap overhyped and a lot of fluff

d
driverti1
Oct 23, 2017

Please get the ebook version. Thank you very much!

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