Principles: Life and Work
- Downloads：5082
- Type：Epub+TxT+PDF+Mobi
- Create Date：2021-04-20 13:53:29
- Update Date：2025-09-06
- Status：finish
- Author：Ray Dalio
- ISBN：1501124021
- Environment：PC/Android/iPhone/iPad/Kindle
- Download
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 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 is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press。
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 is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press。
Reviews
Bart Russell McDonough
，
Fantastic
Ananth Koovappady
，
The Principles， as enunciated by Ray， are something that most business people follow - some with great success （like Ray） and others with not so much。 However， for all the good things he mentions about his organization following them， the actions in the real world do not speak for them。 The lawsuits for sexual harassment， the extreme pressure people are put into in their jobs， the alleged culture of team members stabbing one another in their back to get ahead。。。。。 these are some things that call The Principles， as enunciated by Ray， are something that most business people follow - some with great success （like Ray） and others with not so much。 However， for all the good things he mentions about his organization following them， the actions in the real world do not speak for them。 The lawsuits for sexual harassment， the extreme pressure people are put into in their jobs， the alleged culture of team members stabbing one another in their back to get ahead。。。。。 these are some things that call into question the very principles that Ray says he has put into place to make his company excellent 。。。more
Brahm
，
I've heard Ray Dalio on a couple podcasts （I think Tim Ferriss and also the Knowledge Project） and he was always fascinating to listen to。 I'd received 2-3 recommendations for Principles so I took the plunge。 This is a book in three parts: an autobiography， a series of life principles， and a series of principles for work。 I enjoyed the autobiography and the work principles the most。 Around work principles， particularly the theory about how people and culture really drive good， sustainable and me I've heard Ray Dalio on a couple podcasts （I think Tim Ferriss and also the Knowledge Project） and he was always fascinating to listen to。 I'd received 2-3 recommendations for Principles so I took the plunge。 This is a book in three parts: an autobiography， a series of life principles， and a series of principles for work。 I enjoyed the autobiography and the work principles the most。 Around work principles， particularly the theory about how people and culture really drive good， sustainable and meaningful work: all other factors are secondary （expertise， experience， etc。）。 And really just how critical getting the right people in each role is。 What's neat about this book is that it probably has something for everyone at different phases in their lives and/or careers。 I'd be curious to read it again in 10 years and see how different the experience is。 Some of Dalio's key principles are quite repetitive which I didn't mind， it helped make them stick。 They are concepts we don't see in most organizations: "idea meritocracy" and "radical transparency and open-mindedness"。 I listened to the unabridged audiobook which was about 16 hours。 A few mild criticisms。 There are so many principles， they start to blend together。 In fact， Dalio delegates about half the narration of the audiobook to another person， which disrupts the flow。 Dalio's narration is fantastic and Jeremy Bobb is okay， but he's no Dalio。 The middle section on life principles I found less interesting。 I liked all the hedge fund details， but those stories might be a barrier to someone who might otherwise benefit from （for example） the details on teams and culture。 Depending on your position in life or career this could be an amazing read， or biz-help schlock。 Some of the more critical reviews seem totally valid。 Personally， I enjoyed and would generally recommend it。 。。。more
Linda Vituma
，
Veca vīra runa - ar brīnišķīgu viedumu un ar sava laika domām。 Tomēr fakti ir fakti - autora dzīve runā pati par sevi。 Mana daļa - skaties， domā， mācies un dari。 Un dzīvo savu dzīvi。 Ir aizkustinoši un nedaudz neierasti piedzīvot veca， pragmatiska， bagāta vīra nesavtīgu dalīšanos pieredzē - tik praktisku， iedvesmojošu un godīgu vienlaikus。 Ray Dalio pilnīgi noteikti varētu atbilst apraksta "Mūks， kurš pārdeva savu Ferrari" - tikai ar dažām būtiskām niansēm: 1） Ferrari viņš nepārdeva; 2） liriku n Veca vīra runa - ar brīnišķīgu viedumu un ar sava laika domām。 Tomēr fakti ir fakti - autora dzīve runā pati par sevi。 Mana daļa - skaties， domā， mācies un dari。 Un dzīvo savu dzīvi。 Ir aizkustinoši un nedaudz neierasti piedzīvot veca， pragmatiska， bagāta vīra nesavtīgu dalīšanos pieredzē - tik praktisku， iedvesmojošu un godīgu vienlaikus。 Ray Dalio pilnīgi noteikti varētu atbilst apraksta "Mūks， kurš pārdeva savu Ferrari" - tikai ar dažām būtiskām niansēm: 1） Ferrari viņš nepārdeva; 2） liriku nekuļ; 3） un dzīvot māca kā Buda - klausies un domā pats; pieredzi un lem pats。 。。。more
Gilson Carone
，
Começa legalzinho， mas depois fica chatinho。
Ebbasally2
，
3，5 stars
Joel Sunny
，
This is truly one of Ray Dalio's best work so far。 'Principles' is not a self-help book。 It imparts the collective life lessons and philosophies of one man with decades of experience under his belt。 All the book truly asks of the reader is to understand their principles and values in order to gain a clear perspective of their identity and roles in a social context。 The book is divided into three sections。 The first is the autobiography of the author。 In which he details the experiences that more This is truly one of Ray Dalio's best work so far。 'Principles' is not a self-help book。 It imparts the collective life lessons and philosophies of one man with decades of experience under his belt。 All the book truly asks of the reader is to understand their principles and values in order to gain a clear perspective of their identity and roles in a social context。 The book is divided into three sections。 The first is the autobiography of the author。 In which he details the experiences that more or less formed his principles and values。 Mr Dalio does not take this opportunity to display his pioneering work or the tremendous success he and his firms has had in the Financial Industry。 Instead， he talks about the circumstances of his youth and key events in his later life where he was wrong， even though he was sure that he was right。 But more importantly， he leaves hints to how these moments of failure shaped his principles and the way he views problems。 He seeks to understand them as clearly as he can， it doesn't matter who the solution or idea comes from， it matters what the solution or idea is。 On that note， he emphasises the importance of the right people in one's life。 The kind of people who share the right principles。 One may disagree with them on many things but with the right principles one may hash out these differences to reach the best conclusions。 Mr Dalio demonstrates with his experiences that a person can not be right about everything， but with the right people who may disagree on important matters， one has the best chance of finding the truth。 In the next two sections， Mr Dalio specifies his life and work principles in a unique way。 This part of the book is not intended to be read in one sitting unlike the first part of the book。 He uses an indexing system that allows the reader to dive deep into the principles they choose and skim over others without losing the core value behind it。 It has been written as though it is a user manual for life and work。 I find this feature itself to be a demonstration of one of his principles。 The author does not claim that all his principles are equally valuable or useful。 Instead， he encourages the reader to think for themselves to define their principles and use his principles only as a reference for their own。 The author also dives into subjects like synthesizing information properly， managing disagreement for good decision making and creating the right culture around you to attract the right people。 Which make the content of this book not only incredibly valuable but wholistic。 However this is not a lite read and one must be in an open frame of mind to truly consider the ideas put forward， which some may not be able to stomach。 I would personally recommend this book to anyone with a desire to grow and attain a complete understanding of the people and world around them。 Principles will not give them to you but will show you the path to achieving it。 。。。more
Kaja Trees
，
Having completed just up to the end of "Life Principles" part， I'd like to add a note for myself about how it seems so far。I really respect Ray Dalio for such clear and well-refined principles。 I love principled people， especially if the principles are smart， and it seems like these are。There is one thing that irks me about those principles - they do whatever necessary to IGNORE emotions。 Sure， one should not jump to do everything that the emotions demand。 However， my years of therapy have led m Having completed just up to the end of "Life Principles" part， I'd like to add a note for myself about how it seems so far。I really respect Ray Dalio for such clear and well-refined principles。 I love principled people， especially if the principles are smart， and it seems like these are。There is one thing that irks me about those principles - they do whatever necessary to IGNORE emotions。 Sure， one should not jump to do everything that the emotions demand。 However， my years of therapy have led me to understand that ignoring emotions altogether leads to pain， anxiety and depression。 Instead of ignoring them， one should listen to them and try to understand them。 Maybe you get irritable thinking about another task to do because you are hungry， thirsty or tired？ If so， you probably should take a break to fix these before doing the next task you have。 Or maybe you haven't slept well the previous night， then you shouldn't try to break the weightlifting max you have。 You have to be smart about handling emotions or they'll grow and bubble up at the most inconvenient moment to bite you in the a**。（I will add to these comments once I finish the book） 。。。more
Lord Zamba
，
Radikálna transparentnosť a radikálna pravdivosť。That's the key。 Radikálna transparentnosť a radikálna pravdivosť。That's the key。 。。。more
Arvydas Samalius
，
6
Jack Zuber
，
Do not treat everyone the same， treat everyone accordingly。Within your team， create the mistake logger。 If someone commits a mistake， they report to journal and write down who was responsible and what they learned from it。 If they do this then their mistake is absolved。 In this context， make it so that the only way your employees will be punished is if they do not report their mistake to the mistake logger。 Management will no longer have to ferret out issues because they will present themselves Do not treat everyone the same， treat everyone accordingly。Within your team， create the mistake logger。 If someone commits a mistake， they report to journal and write down who was responsible and what they learned from it。 If they do this then their mistake is absolved。 In this context， make it so that the only way your employees will be punished is if they do not report their mistake to the mistake logger。 Management will no longer have to ferret out issues because they will present themselves out in the open。 Everybody's opinions should not be treated equally， rather， create an Idea Meritocracy where opinions carry weight in accordance with their credibility。 Foster a tolerable environment but DO NOT be tolerable of those who are intolerant。 。。。more
Diarmaid Smyth
，
Great information but got a little heavy with the step by step processes。 Will require a lot of motivation to revisit and study。
Eric
，
Hard to agree with all the methods here， since all companies are different， and that's a good thing。 But if you work for Ray Dalio， at least you know what to expect。 Hard to agree with all the methods here， since all companies are different， and that's a good thing。 But if you work for Ray Dalio， at least you know what to expect。 。。。more
Rhett Reisman
，
"Life is short and hard like a bodybuilding elf" - my high school Physics teacherI read 52 books in 2018， mostly because I fetishized CEOs， hustle culture， and reading as a heuristic for achievement。I'm older now （27 as of last Friday - happy belated birthday to me）， and in my wise old age my philosophy has changed from read as many books as possible to don't waste time reading things that you find useless。Principles by Ray Dalio is the first book that I'm putting down early。 Not because it's ho "Life is short and hard like a bodybuilding elf" - my high school Physics teacherI read 52 books in 2018， mostly because I fetishized CEOs， hustle culture， and reading as a heuristic for achievement。I'm older now （27 as of last Friday - happy belated birthday to me）， and in my wise old age my philosophy has changed from read as many books as possible to don't waste time reading things that you find useless。Principles by Ray Dalio is the first book that I'm putting down early。 Not because it's horrible - it's not great， but because I don't plan on starting or operating a global hedge fund anytime soon （and it's VERY boring and repetitive）。 The book （like many other self-help / business books） can be boiled down to: choose long term over short term and systems are better than goals。If you're looking for a book to explain to you why you should choose long term over short term and why systems are better than goals - there are lots of more accessible， less specific to running a hedge fund， and generally more interesting options （see Atomic Habits， How to Fail at Almost Everything and Still win Big， 12 Rules for Life， Leadership Strategy and Tactics， the list goes on and on）。If you are looking to start / run a hedge fund this might be a great book for you and you might find those other books not specific enough to your problem。 For the rest of us: we can probably get by with something more fun and stop taking book recommendations from Bill Gates， and start putting down books we don't care for before we get to the last page。Memento mori 。。。more
Ogsen Galstyan
，
Գրքի սկզբնամասն էր կոնկրետ ինձ համար արժեքավոր ու հետաքրքիր։ Կարծում եմ գիրքը ավելի օգտակար կլինի մեծ թիմերի կամ ընկերությունների ղեկավարներին։
Christina Gomez
，
The book is very good， but extremely and unecessarily long if you ask me。 However， he has a lot of wisdom， some， conventional knowledge that is good to go back to and see it in black and white， and a few very good life tips that if taken seriously， could really benefit you。
Bryan Chasko
，
An all time favorite on understanding intrinsic motivation and replicating success from an evolutionary biology perspective。
James Williams
，
Great book， and the two greatest principles were to engage in meaningful work and meaningful relationships。 However， I think the book could have been condensed， but definitely worth the read。 Dr。 James Arthur Williamswww。unmaskytp。com Great book， and the two greatest principles were to engage in meaningful work and meaningful relationships。 However， I think the book could have been condensed， but definitely worth the read。 Dr。 James Arthur Williamswww。unmaskytp。com 。。。more
Fellipy Ferreira
，
Livro interessante pois aprendemos os passos de um grande investidor e empresário， encontramos diversas dicas e frases valiosas aplicáveis no nosso dia a dia profissional。 Minha ressalva é que se perde um pouco explorando questões de psicologia e neurolinguística que não são sua área de atuação。 Ao final o livro começa a se tornar maçante。
Sarah
，
Really good stuff！
Georgios Koutsogkilas
，
Absolute Game Changer this book if implemented can change your business。 Ray gives his thinking patterns （he calls principles） to you so you can think like he does and think in your business like he would。 But also to learn how to improve them and work on them。 The 3 biggest takeaways :Radical transparency Absolute Meritocracy Total accountability （both up and down the hierarchy）
Lukas
，
Overall a very good book， however a lot is repetitive and it revolves around the same themes over and over again。
Gabriel Ursan
，
Ray Dalio este considederat un “Steve Jobs al investitiilor”， iar in aceasta carte am aflat despre principiile sale de munca si de viata， urmand probabil sa publice o carte total separata legat de investitii。 Cartea este o lectura matura si pragmatica legata de business si viata。 Poti aprecia informatiile din ea abia dupa ce ai trecut prin diverse experiente de viata sau dupa ce ai avut anumite probleme sau provocari。 Eu pe o parte le-am avut， pe o parte nu， insa voi sti ce carte sa rasfoiesc at Ray Dalio este considederat un “Steve Jobs al investitiilor”， iar in aceasta carte am aflat despre principiile sale de munca si de viata， urmand probabil sa publice o carte total separata legat de investitii。 Cartea este o lectura matura si pragmatica legata de business si viata。 Poti aprecia informatiile din ea abia dupa ce ai trecut prin diverse experiente de viata sau dupa ce ai avut anumite probleme sau provocari。 Eu pe o parte le-am avut， pe o parte nu， insa voi sti ce carte sa rasfoiesc atunci cand lucrurile vor deveni mari si vor aparea probleme si provocari specifice lucrurilor mari :） 。。。more
Vlad
，
Ray Dalio is an excellent systematic thinker。 It is a great possibility， to see， which algorithms he use。 To my opinion， many of them are too compressed， probably because the author have so many of them。Most interesting to me was the ideas about meaning of leadership and responsibilities， idea management， and using data， for employees “classification”
Michael Amann
，
TL;DR: Enjoyable audiobook。 Ray Dalio is the author and narrator。The first part of the audiobook is about Ray's journey through life。 We learn about his upbringing， his youth， and ultimately how he got started with and excelled in his business。 I found this part the most interesting and the delivery was very engaging。The 2nd part of the book deals with life principles。 Now if you've read self-help books then many things are repeated in here。 Many smart people say the same things so something got TL;DR: Enjoyable audiobook。 Ray Dalio is the author and narrator。The first part of the audiobook is about Ray's journey through life。 We learn about his upbringing， his youth， and ultimately how he got started with and excelled in his business。 I found this part the most interesting and the delivery was very engaging。The 2nd part of the book deals with life principles。 Now if you've read self-help books then many things are repeated in here。 Many smart people say the same things so something got to true about them。 Ultimately I did not feel like I got many new things out of this part of the book other than reinforcing ideas and principles I've been applying to my life for quite a while now。 Don't be afraid to fail。 Embrace failures and learn from them。 Gotcha！The final part of the book deals with work principles。 As I'm leading a team in my job I found this part of the book very valuable - I learned quite a lot。 Many of the advice given is something that I can apply to my day-to-day right away - cool！One minor complaint: Ray pretty much believes that if a person does not fit in your company you should fire them right away and get someone else。 Okay， got it。 But what if you're not in a company that can recruit talent every day？ Ray can't offer advice on this topic because he probably never was in this position。An enjoyable read （listen） - I recommend it。 。。。more
Pravin
，
This review has been hidden because it contains spoilers。 To view it， click here。 When I have kids， this book will be mandatory reading。When I reflect on my life， I find that all my "down" periods persist until I find a book/audio book that helps me turn around & salvage my sanity & mental well being。 Dalio's principles is one of those books。This book is so influential on my thinking， that I keep a copy at office for quick reference。This book exudes so much goodness that its hard for me to review it so let me just give you an ultra-summarised version of its best bits:1） Be a When I have kids， this book will be mandatory reading。When I reflect on my life， I find that all my "down" periods persist until I find a book/audio book that helps me turn around & salvage my sanity & mental well being。 Dalio's principles is one of those books。This book is so influential on my thinking， that I keep a copy at office for quick reference。This book exudes so much goodness that its hard for me to review it so let me just give you an ultra-summarised version of its best bits:1） Be a hyper realist - you can do whatever you want but you can't do everything you want。2） The path to success is paved with sacrifice - what are you willing to give up in order to get ahead？ This is an immensely painful question to tackle but， if you're a hyper realist， you will have to face it head on。3） Humans are thinking machines - view your own behaviour as if you were stepping outside of yourself then evaluate your actions & thoughts。 If something is problematic， do not tolerate it & remove it from your life; it's holding you back。4） Good teams are those that maintain a healthy work culture - practice idea democratisation & let everyone have their say。 5） Define your principles， review them periodically， but stick to them。There's so much more to Dalio's book， from his own ups & downs， to his struggles & his successes， & his philosophy on building yourself up as an efficient machine， & organising other around you in a similar fashion。This is critical reading for adults in 2021， trust me you'll thank me after you finish this。Dalio has a superb 30 minute summary of the book available for free on his YouTube page。 I cannot recommend it highly enough。 。。。more
Steven Rodriguez
，
Strong concepts， incredible journey of a legend hedge fund investor。
Marion Lescure
，
This book reveals the inside and out of how to start a journey to success。 It is focused on money stories and investment examples。 The author is able to relate to many types of profiles。 There is clear explanation of success and failure with best practices to improve。 I recommend for a larger view on life。
Rafa Lobomar
，
3。5: The book is segmented in 3 parts: （a） An autobiography （which I found interesting）（b） Vital principles that guide you to make better decisions。 This segment also digs into the general idea of how our brain works。 （c） working principles （useful if you are planning to start an organization or if you're already in a managing position）。The relevance of being extremely open-minded and radically transparent in order to grow and achieve excellence while encouraging the others to do the same is wel 3。5: The book is segmented in 3 parts: （a） An autobiography （which I found interesting）（b） Vital principles that guide you to make better decisions。 This segment also digs into the general idea of how our brain works。 （c） working principles （useful if you are planning to start an organization or if you're already in a managing position）。The relevance of being extremely open-minded and radically transparent in order to grow and achieve excellence while encouraging the others to do the same is well developed， although I found it repetitive （the book could have been shorter with the same impact）。 。。。more
Tom
，