Principles cover art

Principles

Life and Work

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Principles

By: Ray Dalio
Narrated by: Ray Dalio, Jeremy Bobb
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About this listen

 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
The author is incredibly eloquent and down to earth person. Normal language is being used to explain complexity of company organisation etc.

An absolute must read

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Ray Dalio narrates a significant portion of the book and is much more engaging than the other narrator, but the content is excellent

a future classic

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It's a book full of information and from my perspective, it needs a lot of attention. I have to relisten.

I have to listen it again as it's so full of infos

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The first part of this book is great for someone in his 20s who is just starting off in life and and struggles in achieving his personal goals. The second is useFul for the future manager.
The book motivates one to be better and look at his/her flaws objectively. It’s practical and gives hands-on approaches to creating principles in life that will undoubtedly improve one’s standard of living.
Sure, it’s not perfect, some of the terms used are over-repetitive and can at times get annoying, and some of the ideas presented here and not earth-shattering revelations. But it helped me widen my perspective and I wished I had read it 10 years ago. If I had, and more importantly, followed his advices, I can confidently say that my life would have been better now. Not everyone has in their lives these kind of role models, and frankly it makes me happy that a billionaire with better things to do takes his time to share, with humility, his life lessons.

Great for personal development

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Ray Dalio is a billionaire investor and the founder of one of the world's biggest hedge funds.

Ray shares his life lessons and work experience through principles as guidelines on how to create your own principles and incorporate decision making frameworks in your professional and personal life.

As a young professional with financial background, I was able to visualise and appreciate investment scenarios discussed throughout the book. This might not resonate with all individuals without this background.

Throughout the book some principles are repeated which have been applied to different scenarios.
While I see this as continuous reflection on these principles and embed them in my long term memory, some people might see this as repetitive.

Rating: Must Read

Decision making frameworks

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