principles

Ray Dalio, one of the world's most successful investors and entrepreneurs, shares the unconventional principles he has developed, refined, and used over the past 40 years to achieve unique results in life and business, ones that any individual or organization can adopt to 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 generated more profits for its clients than any other hedge fund in history and has grown to become the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named one of Time magazine's 100 most influential people in the world. Throughout his career, Dalio has discovered a set of unique principles that have led to Bridgewater's highly effective culture, which he describes as "an intellectual meritocracy that strives for meaningful work and productive relationships through absolute transparency." Dalio, who grew up as a normal child in a middle-class neighborhood on Long Island, believes that these principles, and nothing else, are the secret to his success. In his book, "Principles," Dalio shares what he has learned over his distinguished career. He argues that life, management, economics, and investing can all be structured into rules and understood like machines. The book includes hundreds of practical lessons, built on his core principles of "radical truth" and "radical transparency," including Dalio's presentation of the most effective ways for individuals and organizations to make decisions, confront challenges, and build strong teams. He also describes the innovative tools the company uses to embody meritocracy, such as creating "baseball cards" for all employees that highlight their strengths and weaknesses, and using computerized decision-making systems to make decisions based on credibility. While the book is packed with innovative ideas for organizations and institutions, "Principles" also offers a clear and straightforward approach to decision-making that Dalio believes can be applied by anyone, regardless of their goal. Here, from a man described as the "Steve Jobs of investing" and the "philosopher king of finance" (CIO Magazine), is a rare opportunity to get proven advice unmatched in traditional business journalism. Note: When you purchase this book, the accompanying reference materials will be available in your library section along with the audio file.