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Principles

Life and Work

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Principles

By: Ray Dalio
Narrated by: Ray Dalio, Jeremy Bobb
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An Avid Reader Press book. Simon & Schuster has a great book for every reader.

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. Career Success Decision-Making & Problem Solving Investing & Trading Leadership Management & Leadership Personal Finance Investing Business Career Inspiring Management Thought-Provoking Stock Success Sports Money New York Biography Employment Construction Business Product Strategy
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Critic reviews

“Ray Dalio has provided me with invaluable guidance and insights that are now available to you in Principles.”
—Bill Gates
“I absolutely loved this book. It’s beautifully written and filled with such wisdom.”
—Arianna Huffington
“I found it to be truly extraordinary. Every page is full of so many principles of distinction and insights—and I love how Ray incorporates his history and his life in such an elegant way.”
—Tony Robbins
“Ray Dalio’s market acumen is legendary, but it was creating and living by a set of principles that allowed him to reach the top. Everyone with goals and dreams can learn from Ray’s approach.”
—Michael Bloomberg
“It’s important and instructive to share what you’ve learned in life with others, and Ray does this in an interesting and provocative way in this compelling work.”
—Jamie Dimon
“Among a handful of philosopher-investors known not only for moneymaking prowess but also for their distinctive take on life.”
—The Wall Street Journal
“What makes Dalio compelling is not just his track record but the way he goes about making money, and the rigorous analysis he applies to understanding markets, organizations, the economy, and life.”
—Fortune
All stars
Most relevant
I truly enjoyed this book and it was particularly beneficial being read by the author. Ray Dalio is a very successful person and it’s excellent for him to share, in full transparency, his Principles that shaped him and Bridgewater. This allows you to gain a very intimate insight on Rays compass north during all important and mundane decisions and can be used a guide for you as you develop your own principles.
Of course, this is the premise of the book that to achieve results it requires radical truth with radical transparency. Ray certainly delivers on this and I have begun to implement these within my career and life.

Your compass north guide on your life journey

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Grade- B

Difficulty Level- moderate, plus 555 pages

Principles is split into 3 sections. Part 1 is an autobiography of Dalio’s life, Part 2 is life principles, and Part 3 is work principles.

What makes this book extra special is not just the fact that its an autobiography and a personal development book of a hyper-successful entrepreneur, but also that Principles was written toward the end of Dalio’s career, so is full of entrepreneurial wisdom, lessons and insights that help with each stage of an entrepreneur’s journey.

However, the book could have been shorter, and I didn’t find the life principles section as useful as his autobiography & work principles.

Overall, im glad I read this book. It taught me a variety of lessons- from life, finance & economics, running a successful company & its challenges, politics & more.

Been on my list for a while so definitely happy to have completed it.

Great book, essential for all entrepeneur

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I'm very grateful that Ray has sharedhis principles. These are life changing. Whilst not all will be applicable to everyone, and he acknowledges this, the important point is the framework he introduces for devising your own principles.

Life changing

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Seems to focus more on work principles and how idea meritocracies are the best way to run a company and spends a huge amount of time trying to convince you that this is the case and how to run a company. although this is what he has done most of his life I'm not at this stage yet so it wasn't as useful to me. would like a bit more of an emphasis on life principles and how to get the most out of your day/ life in whatever you do. it's still a good book thpigh but I would like to read it again when I'm at the making of a company stage in my life

Good but PDF missing

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Very inciteful account with lots of actionables and tools. Well read by Ray and Jeremy. Some funny anecdotes too.

Very informative, lots of key actionables

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