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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
Thank you Ray Dalio for writing this! Business and life guidance from someone well read and most definitely experiences..

A life changing boom

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This book contained some really useful insights and offered a glimpse of how the world of financial services will someday look. That said, it was extremely repetitive and dragged on for about 9 hours longer than it needed to.

Great insights but very, very repetitive.

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A great booked packed full of great business insights.

It’s a long one, but well worth the time.

Long, but packed full of useful insights

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This is the most complete assembly of fundamental good people management and team leadership lessons there is. If you are in a role where you lead people or shape how leaders work in your organisation, this is essential listening.

As with any management self-help book, your mileage may vary with parts - some principles were already evident to me just through life, some I learned through work, but some were completely new and made a lot of sense and, crucially, all were laid out with a clear framework for applying and explaining that made them useful to hear again and have underlined.

The first part of the book is autobiographical and while it does set some context for what is to follow, you may have a better time listening to the work or life principles first. I did.

My only criticism: while Jeremy is a very capable narrator, the first hand nature of the book means it had more gravitas in the parts that Ray narrates.

Fundamental listening for people managers

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Ray Dalio goes into full transparency of how Bridgewaters evolve through time and what principles he uses managing the company. Insightful and provoking.

Ray Dalio is a titan

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