Principles: Life and Work

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Simon and Schuster, Sep 19, 2017 - Business & Economics - 592 pages
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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.
 

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apply the principals - Issuelog. I started from 4/1/2018 in my business divison, and will evaluate the result in 6 months by October.

Contents

19491967
5
19671979
11
19791982
27
LIFE PRINCIPLES
131
Use the 5Step Process to Get What You Want Out of Life
168
Understand That People Are Wired Very Differently
202
Learn How to Make Decisions Effectively
234
Putting It All Together
267
TO GET THE PEOPLE RIGHT
394
TO BUILD AND EVOLVE YOUR MACHINE
444
Use Tools and Protocols to Shape How Work Is Done
524
And for Heavens Sake Dont Overlook Governance
530
Putting It All Together
539
TOOLS AND PROTOCOLS FOR BRIDGEWATERS IDEA MERITOCRACY
545
BIBLIOGRAPHY
553
182
560

Summary and Table of Work Principles
280
TO GET THE CULTURE RIGHT
318
ACKNOWLEDGMENTS
565
Copyright

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About the author (2017)

Ray Dalio is the founder and co-chairman of Bridgewater Associates, which, over the last forty years, has become the largest and best performing hedge fund in the world. Dalio has appeared on the Time 100 list of the most influential people in the world as well as the Bloomberg Markets list of the 50 most influential people. He lives with his family in Connecticut.