Principles: Life and Work (PDF) (Print)

#1 New York Times Bestseller

ÒSignificant...The book is both instructive and surprisingly moving.Ó ÑThe New York Times

Ray Dalio, one of the worldÕs most successful investors and entrepreneurs, shares the unconventional principles that heÕs developed, refined, and used over the past forty years to create unique results in both life and businessÑand 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 magazineÕs list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to BridgewaterÕs exceptionally effective culture, which he describes as Òan idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.Ó It is these principles, and not anything special about DalioÑwho grew up an ordinary kid in a middle-class Long Island neighborhoodÑthat he believes are the reason behind his success.

In Principles, Dalio shares what heÕs 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 bookÕs hundreds of practical lessons, which are built around his cornerstones of Òradical truthÓ and Òradical transparency,Ó 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 Òbaseball cardsÓ 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 theyÕre seeking to achieve.

Here, from a man who has been called both Òthe Steve Jobs of investingÓ and Òthe philosopher king of the financial universeÓ (CIO magazine), is a rare opportunity to gain proven advice unlike anything youÕll find in the conventional business press.