Principles

Life and Work

By: Ray Dalio

Narrated by: Ray Dalio, Jeremy Bobb

Length: 16 hrs and 5 mins

Publisher's summary

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 40 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 has 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.

Download the accompanying reference guide.

©2017 Ray Dalio (P)2017 Simon & Schuster Audio

The Management/CEO’s Handbook

Having fewer reports (zero), than the author, this book - while very interesting, insightful and practical - comes across as directed towards folks way above my pay grade. CEOs and VPs in particular. Still, as a small cog in a very big wheel, I recommend it for both perspective on what good management looks like, and for straight-up honorable principles to live by.

Insightful but repetitive

I listened to the entire book to understand the context of the principles. However that led me to become easily bored by the constant repetition of the words "idea maritocracy" and "radical honesty". I would suggest skipping to the second portion of the book when the author explains the life and work principles.

Amazing

Would you consider the audio edition of Principles to be better than the print version?

i have not read the print yet

What did you like best about this story?

its organic, raw, understandable, relatable, interesting, thought provoking.

Which scene was your favorite?

i love the phycological aspects and human emotion breakdown, and how Ray talks about our relationships with others and Ray ties everything together very well

Any additional comments?

must read

it would be great if there is e-book companion !!!

I have always love autobiography. This book definitely gives me practical guides to my business. And, through reading this book, I understand why my business suffered all these years!!!

It would be so much better if there is ebook companion. Last time, I bought Dr. Daniel Amen's book with e-book companion and that helps me to finish a book at least two times faster. I do believe e-book companion push me to finish the book much faster so that I can move on to other books!

This is definietly a great book guiding me how to think and work, I hope more people can be benefited.

The Secret Sauce is out

This Book will be one of those reference books that you keep close to your work desk or in digital print on your computer or hand held device . This book touches on the Psychological and Foundamentals in Business . It cannot be read once or twice nor 3 times it will always be a reference guide for building a very big business and running a Business Organization. this book is highly recommended for business start ups , Seasoned vets at all levels.

Amazing Book! Amazing Author

Best to hear by audible and then read and markup the book. i highly recommend this book to anyone trying to have a better life or business.

One of the bests books I've ever read.

Without question one of the best books, if not the best book I have ever read.

So much great information I will listen to to again and again

This book is packed full of amazing information on how to be better at life and work.

Beautiful

Reminds me of this book: up the organization but more detailed and with more radical tools for management!

The Steve Jobs of Investment indeed

Thank you Ray. You have contributed to the evolution of mankind ! I hope I get the chance to meet and have a conversation with you.