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Simon and Schuster, Aug 7, 2018 - Business & Economics - 592 pages
#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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LibraryThing Review

User Review  - cakecop - LibraryThing

The first hundred pages I read very closely. I skimmed the rest. Dalio is an obsessively competitive person and he carefully architects how he succeeds. His mental discipline for success is extremely ... Read full review

LibraryThing Review

User Review  - willszal - LibraryThing

A review of Ray Dalio's 2011 publication, “Principles.” I read the first 55 pages; the second half of the document is like a principles appendix. Summary Three Parts: 1) The Importance of Principles 2 ... Read full review


Embrace Reality and Deal with
Use the 5Step Process to Get What You Want Out of Life
Unacceptable Not to Learn from Them
Remember That the WHO Is More Important than the WHAT
Constantly Train Test Evaluate and Sort People
Manage as Someone Operating a Machine to Achieve a Goal
Perceive and Dont Tolerate Problems
Diagnose Problems to Get at Their Root Causes
Design Improvements to Your Machine to Get Around Your Problems
Do What You Set Out to

Be Radically OpenMinded
Understand That People Are Wired Very Differently
Learn How to Make Decisions Effectively
Putting It All Together
Summary and Table of Work Principles
Use Tools and Protocols to Shape How Work Is Done

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About the author (2018)

Ray Dalio is the founder and cochairman 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 is the author of Principles, Big Debt Crisis, and The Changing World Order. He lives with his family in Connecticut.

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