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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 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.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.

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

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AMAZING BOOK

This book was awesome. Great to hear and listen to someone that has had great financial success talk about principles. I would love to be in Ray Dalio inner circle. So much wisdom and knowledge that you can learn from. I'm developing my own principles now while also noting down Rays. Awesome book and many thanks for writing this gem.

6 of 7 people found this review helpful

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Too lengthy, internal code for BridgeWater's staff

The book can be cut to one-tenth in volume without losing much detail.
The gist of the book is about how the author sees his organizstion as a machine with people as its parts. The principles given in this regard are blueprints without much delving into reasoning. Mostly useful as a code of conduct and practice for BridgeWater people.
I expected much more from this book.

8 of 11 people found this review helpful

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Management consultant soup, not for investors

If this book wasn’t for you, who do you think might enjoy it more?

A small business growing into a medium size business may appreciate the exhausting list of principles.

Would you ever listen to anything by Ray Dalio again?

If he releases his investing principles, as promised, I'd be very interested. Most buyers would be shocked to hear that this 'investing great' does not write much about investing in this very long book.

How did the narrator detract from the book?

Ray Dalio narrates half the book but a backup narrator is left to churn through a lot of the repetitive sounding chapters.

What reaction did this book spark in you? Anger, sadness, disappointment?

Disappointing because Ray Dalio has presented his organisational principles and held back on his investing strategies. He posits that to emulate his investing success, others should consider following his work principles. This is most likely an illusion of causality. It is more likely a coincidence that he has been wildly successful in picking market moves as well as instituted a certain type of management, not because of it.

Any additional comments?

Ray Dalio trumpets radical transparency and openness to feedback which is why i don't feel insubordinate in labelling his manuscript a misguided and futile contribution. Ray, you're a legend because of your investing, not your management. Just read your mixed Glassdoor reviews.

1 of 1 people found this review helpful

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Complicated data subsets

Would you try another book written by Ray Dalio or narrated by Ray Dalio and Jeremy Bobb ?

Maybe if it was about his trading

You didn’t love this book--but did it have any redeeming qualities?

The five steps in achieving success are good

Any additional comments?

Overall its just too complicated. There are five goals....or is it seven.....or is it ten....each of them has subset bits of info ie goal 1.1, with then further subset info ie goal 1.1a, then further ie goal 1.1a,1-24.

I ended up getting the kindle book so I could keep track of it all. That was just as complicated only now I could see the full extent of it.

For those who can approach life like an algorithmic trading plan, this book is for you; it's a kind of life algorithm, which, if you can implement it, guarantees success.

5 of 8 people found this review helpful

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A must for every business leader.

Exceptional. From Ray's story of how he rose to the man he is today to practical thought provoking perspectives we can all apply to our own growing organizations.

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must buy

This book is very good value. all 16 hours are absolutely fantastic! Thank you Ray Dalio.

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  • Brennan
  • Darlinghurst, Australia
  • 08-08-2018

Terrible

A book on principles that doesn’t explain any principles. Boring and a waste of time. Ray should’ve let someone capable tell his story.

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Really enjoyed the story

Really enjoyed the first part which is the story of how Ray built Bridgewater - highs and lows etc was very interesting and his perseverance through the adversity he faced.
Second part is the principles which are very interesting but a bit hard to follow on the audio version so I think the supplementary material (or better yet, the full hardcopy) would be great to have.

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some great principals

if you are in and organisation or trying to build one there are some wonderfully insightful principals to achieve better efficiently and levels of success.
pretty deep in the minutia of bussiness and organisational engineering but everyone can take something away from this book.

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whats possible

I loved the principals in this audio, especially coming to the end, their values and systems, was eye opening