Principles: Life and Work (Simon + Schuster)
#1 New York Times Bestseller & #8220 Significant...The book is both instructive and surprisingly moving.& #8221 & #8212 The New York Times Ray Dalio, one of the world& #8217 s most successful investors and entrepreneurs, shares the unconventional principles that he& #8217 s developed, refined, and used over the past forty years to create unique results in both life and business& #8212 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& #8217 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& #8217 s exceptionally effective culture, which he describes as & #8220 an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.& #8221 It is these principles, and not anything special about Dalio& #8212 who grew up an ordinary kid in a middle-class Long Island neighborhood& #8212 that he believes are the reason behind his success. In Principles, Dalio shares what he& #8217 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& #8217 s hundreds of practical lessons, which are built around his cornerstones of & #8220 radical truth& #8221 and & #8220 radical transparency,& #8221 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 & #8220 baseball cards& #8221 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& #8217 re seeking to achieve. Here, from a man who has been called both & #8220 the Steve Jobs of investing& #8221 and & #8220 the philosopher king of the financial universe& #8221 ( CIO magazine), is a rare opportunity to gain proven advice unlike anything you& #8217 ll find in the conventional business press.