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Principles: Life and Work (original 2017; edition 2017)
by Ray Dalio (Author)
Principles: Life and Work by Ray Dalio (2017)
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 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. Now Dalio shares what he has 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. His practical lessons 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.
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Melvil Decimal System (DDC)650.1 — Technology and Application of Knowledge Management and auxiliary services Business Personal success in business
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