“Principles: Life and Work” is a book by Ray Dalio, an American businessman and founder of investment firm Bridgewater Associates. The book covers principles that Dalio believes have contributed to his success, such as starting with the end in mind, radically transparency and “pain + reflection = progress”. It also details how he created his unique management style based on these principles which he calls “Radical Transparency”.
For who is this book for ?
This book is written for anyone who wants to achieve greater success in their life and work. Dalio shares his personal story of how he became successful and provides readers with a framework that they can use to improve their own lives.
Pros :
- This book provides a framework for success that is easy to understand and apply.
- It offers detailed insight into how one of the world’s most successful businessmen achieved his successes.
- It can help motivated individuals improve their lives and work habits.
Cons :
- Some readers find the book difficult to follow because of its heavy focus on business principles
- Others believe that some of Dalio’s concepts and advice are too rigid or inflexible
- It has been criticized for being self-promoting
Learn more about the author
Ray Dalio is an American businessman and founder of Bridgewater Associates, the world’s largest hedge fund. He has a net worth of $15.2 billion as of March 2017 according to Forbes magazine. Dalio began his career on Wall Street in the 1970s, where he developed an innovative investment strategy that became known as “the risk-parity approach”. In the 1980s he founded Bridgewater Associates, which grew into one of the world’s most successful money management firms with over $160 billion in assets under management as of January 2017. Bridgewater is unusual among hedge funds in that it employs a so-called “communitarian” management style based on principles laid out by Dalio himself in his book “Principles: Life and Work”. Under this system all employees are given access to detailed performance data for each other and are encouraged to offer critical feedback about their coworkers’ work habits. This transparency helps ensure that individual workers are constantly striving to improve their productivity while also fostering a team mentality at Bridgewater.
Reader Reviews
“Ray Dalio is one of the most successful investors in the world, and he has a lot to share about how to be successful. In “
“A game changer”
“If you are looking for ways to change your life, or just understand how someone else could be so successful, then read this book. It is easy to read and filled with valuable information.”
“Reading Principles is like spending time with the world’s smartest, most self-reflective and successful business guru. If you want to understand how any organization – or your own life – can achieve greatness by harnessing the power of principles, this book is an essential read.”
