Principles: Life and Work

(Hardback)

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#1 New York Times Bestseller

Significant...The book is both instructive and surprisingly moving. The New York Times

Ray Dalio, one of the worlds most successful investors and entrepreneurs, shares the unconventional principles that hes developed, refined, and used over the past forty years to create unique results in both life and businessand 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 magazines list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewaters 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 Daliowho grew up an ordinary kid in a middle-class Long Island neighborhoodthat he believes are the reason behind his success.

In Principles, Dalio shares what hes 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 books 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 theyre 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 youll find in the conventional business press.

Reviews

Winner of the Axiom Business Book Award for 2018

Mr. Dalio has long been an object of fascination. . . . His new book is more significant than the original list of principles: It is part memoir, part how-to guide. It is a deeply personal story, with Mr. Dalio wading into how he started his firm in 1975, internal conflicts inside the company, and strife early on in his career. The book is both instructive and surprisingly moving. . . . Underneath what may seem like a clinical, emotionless approach is something different and far more poignant: Mr. Dalio is preaching for individuals to have a sense of humility and introspection, an ability to open themselves to appreciate pointed criticism and use it to improve.
The New York Times
If there was an it book for businesses or careers in 2017, it was Ray Dalios Principles. The book, weighing in at nearly 600 pages, begins with the authors own story, including the rise of Bridgewater Associates, Dalios highly successful investment firm. Part memoir, part strategic plan, Dalio uses his own history to provide suggestions on attaining success while always stressing the power of individuality and personal goals. This isnt just a book for the power elite. Dalios highly detailed game plan focuses on what he calls radical truths and transparencies, and are applicable to the careers of powerful CEOs, ladder-climbing executives, longtime grunts, and fresh-faced rookies.
Chicago Tribune
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. Its 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 insightsand I love how Ray incorporates his history and his life in such an elegant way.
Tony Robbins
Ray Dalios 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 Rays approach.
Michael Bloomberg
Its important and instructive to share what youve learned in life with others, and Ray does this in an interesting and provocative way in this compelling work.
Jamie Dimon
I was surprisingly moved by it. I found it to be remarkably engaging. It made me think about life and how we all deal with each other in pretty profound ways. And Mr. Dalios own story about how he came to these principles is fascinating.
Andrew Ross Sorkin
The billionaire investor has created the strongest culture Ive ever seen in an organizationone that prizes radical transparency over politics and meritocracy over democracy. In his long-awaited book, he describes the systems that he has designed to shape meaningful work, meaningful relationships, and the worlds most successful hedge fund.
Adam Grant
I highly, highly recommend this book. It has already changed how I think about making decisions in my life and in my business.
Tim Ferriss
Its the book I wish I had as a young entrepreneur, stressing over not knowing what I didnt know. Principles offers a bible to the greatest skill an entrepreneur can have, the ability to Learn How to Learn in any situation. Read it.
Mark Cuban
Principles had a profound positive impact on my leadership stylethrough living more honestly.
Reed Hastings
Ray brings unique analytic insights about how to think about complex issues. His Principles is a must read. Its a gift to all of us.
Steve Schwarzman
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

Author Bio

Ray Dalio is Founder, Co-CIO and Member of the Bridgewater Board,which, over the last forty years, has become the largest and best-performing hedge fund in the world. Dalio has appeared on theTime100 list of the most influential people in the world as well as the Bloomberg Markets list of the 50 most influential people. He is also #1New York Timesbestselling author ofPrinciples,Principles for Navigating Big Debt Crises, andPrinciples for Dealing with the Changing World Order. He lives with his family in Connecticut.