Principles

Life and Work

De: Ray Dalio

Narrado por: Ray Dalio, Jeremy Bobb

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.

Reseñas de la Crítica

“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

The Blueprint — Lessons From Reformed New Yorker

The Blueprint — 10 Lessons From Principles: Life and Work by Ray Dalio

What makes this book a gold mine for me and like-minded people:

1. Understanding why a meritocratic environment works best for my personality has helped me shed imposter syndrome; mask off.

2. Ray defines a valid solution around a psychological dichotomy and process that stems to eliminate a ton of common misconceptions. Supportive ideologies around the power of numbers & group theory, associated with machine learning seem to be a great formula for creating an effective symbiotic ecosystem. If practiced by those who are open to change and constructive criticism.

3. The opening line made me want to get on plane to NYC, take a train over to CT, give Ray a high five, then head back to the concrete jungle to engage in shenanigans.

4. Machine learning (ai) can have a positive outcome as long as its used as supportive component for analytics and behavioral studies.

5. Ai, when done right, has the ability to yield some highly beneficial outcomes around structuring teams and making business decisions. At the same time, it can aid in studying your personal history, train of thought, and help predict what environments are good for personality.

6. It’s good to be open to constructive criticism.

7. Arguments should occur with the intention of arriving at new learnings, not to generate hatred or sense of detachment from the opposing party.

8. Some personalities just don’t work for the environment or culture that you are trying to creates. And in certain cases YOU actually create the high level of toxicity that destroys the environment that you are attempting to create.

9. The goal of learning is to grow and one day help another elevate themselves by sharing your learnings in an intuitive manner.

10. Mistakes should be embraced in the same we celebrate blessings. For in a lost or failure, we have an opportunity to learn and increase our aptitude around problem solving for that specific issue.

Bonus: never give up and let your humility serve as the honey that will capture the hearts and minds of your counterparts.

Everyone alive must learn this-

What made the experience of listening to Principles the most enjoyable?

Incredible information/ Principles.

What other book might you compare Principles to and why?

Tony Robbins Unshakeable.

Which character – as performed by Ray Dalio and Jeremy Bobb – was your favorite?

Dalio, playing himself!!

Did you have an extreme reaction to this book? Did it make you laugh or cry?

MADE ME ACT!!!

Any additional comments?

Just listen to it.

The best management book I have ever read

How I wish I have read this book 20 years ago!!! The wealth of knowledge and practical, time-proven solutions to managing organizational problems in this book is phenomenal. Ray Dalio is freely giving out gold in experience and wisdom. I must be wired the same way as he is, as I agree with 100% information and conclusions presented in this book. I work in government sector and have observed first-hand how departmental politics, lack of transparency and integrity extinguishes innovation and productivity. I am seeing unfulfilled potential of the place where I work and my heart cries for it. Even though I have strong internal desire to reach the stated mission of our organization, in Ray’s narrative I have recognized my own managerial weaknesses and mistakes. For some, I have learned from my own errors and reached identical conclusions and solutions as Roy presented in this book. For others, I have not reflected enough to identify the root causes and Roy’s book has been absolutely enlightening in this regard. It is very hard to do the right thing and achieve comparable level of efficiency and productivity in the government as can be done in the private sector; however, based on Ray’s book I am inspired to try precisely that. I can’t wait for him to release the practical tools he has described in the book! Thank you Ray, although we never met, you will always be in my mind honored as great mentor!

Great book by someone worth listening to

This book is very zero in his way to describe how to run a business fairly, without stress, and profitably. It is very descriptive how to handle problems from top to bottom with a very methodical approach, while very inclusive and taking into account all ideas from the smartest people at your company without bias. I would recommend this book to all the employees of my company and believe it will improve decision-making process for everyone. Maybe one of the best books I’ve read.

Outstanding Books

outstanding book the principles were great show you a wonderful way to navigate through your business

Loaded with inspiration

After setting the scene in the first chapters, Ray Dalio generously shares a framework to approach life and work better equipped.
His principles are universally applicable for anyone who wish to evolve and develop in business and in life.

A thought-provoking titanic resource.

This is one of those rare books which try to help the reader build a successful platform for his or her life. On a very pragmatic level. I am thoroughly astounded, impressed and amazed at the volume of disciplined work, thought, and creative process that went in to this particular book. It is the result of many, many years of hard work. Now that the author has presented his life work to us the readers, how can we really use it for our own benefit? Unfortunately, a lot of people will read this and not apply to their lives. Fortunately, there will be some who will do so with enthusiasm, and vigor. This is one step towards the thousand-mile journey to help human kind improve our own lot. Thank you for sharing Ray. Nameste.

Excellent!!!!!

Great, very educational and comprehensive guide for any leader.
Looking forward to read Ray's next book.
Excellent read!!!!

Insightful, well written and empowering

I lead a small software company. Principals has brought me insights, great examples and tools on how to improve my way of looking at managing the company and hopefully they will bare fruit. Highly recommended!!

basically how I live n think

this is an amazing book for people who are methodical and love efficiency. I will say that this only works at a certain level of scale and size. Great to read nonetheless