#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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Fri, 6 Jul 2018 | Review
by: Julian R.
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