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Principles

by Dalio, Ray, 1949- (Author)

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Summary

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. Dalio himself has appeared on Time magazine's list of the 100 most influe... Full description

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Table of Contents:
  • Part I. Where I'm coming from
  • My call to adventure, 1949-1967
  • Crossing the threshold, 1967-1979
  • My abyss, 1979-1982
  • My road of trials, 1983-1994
  • The ultimate boon, 1995-2010
  • Returning the boon, 2011-2015
  • My last year and my greatest challenge, 2016-2017
  • Looking back from a higher level
  • Part II. Life principles
  • Embrace reality and deal with it
  • Use the 5-step process to get what you want out of life
  • Be radically open-minded
  • Understand that people are wired very differently
  • Learn how to make decisions effectively
  • Life principles: putting it all together
  • Summary and table of life principles
  • Part III. Work principles
  • Summary and table of work principles
  • To get the culture right...
  • Trust in radical truth and radical transparency
  • Cultivate meaningful work and meaningful relationships
  • Create a culture in which it is okay to make mistakes and unacceptable not to learn from them
  • Get and stay in sync
  • Believability weight your decision making
  • Recognize how to get beyond disagreements
  • To get the people right...
  • Remember that the WHO is more important than the WHAT
  • Hire right, because the penalties for hiring wrong are huge
  • Constantly train, test, evaluate, and sort people
  • To build and evolve your machine...
  • Manage as someone operating a machine to achieve a goal
  • Perceive and don't tolerate problems
  • Diagnose problems to get at their roots
  • Design improvements to your machine to get around your problems
  • Do what you set out to do
  • Use tools and protocols to shape how work is done
  • And for heaven's sake, don't overlook governance!
  • Work principles: putting it all together
  • Conclusion
  • Appendix: Tools and protocols for Bridgewater's idea meritocracy.
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