#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.
