Principles: Life and Work

An Avid Reader Press book. Simon & Schuster has a great book for every reader. 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, from a man who has been called both "the Steve Jobs of investing" and "the philosopher king of the financial universe" (CIO magazine), is a rare opportunity to gain proven advice unlike anything you'll find in the conventional business press.

About the Author :
A global macro investor for more than 50 years, Ray Dalio founded Bridgewater Associates out of his two-bedroom apartment in NYC and ran it for most of its 50 years, building it into the largest hedge fund in the world under his leadership. He is now in a stage of life in which he wants to pass along and help people learn about principles that have helped him, especially in markets and the economy. He is a long-running New York Times bestselling author of Principles: Life and Work, Principles for Dealing with the Changing World Order, and Principles for Navigating Big Debt Crises. He graduated with a B.S. in Finance from C.W. Post College in 1971 and received an MBA degree from Harvard Business School in 1973. He has been married to his wife, Barbara, for 46 years and has three grown sons and seven grandchildren. He is an active philanthropist.

Review :
"Among a handful of philosopher-investors known not only for moneymaking prowess but also for their distinctive take on life." --The Wall Street Journal "I absolutely loved this book. It's beautifully written and filled with such wisdom." --Arianna Huffington "I found it to be truly extraordinary. Every page is full of so many principles of distinction and insights--and I love how Ray incorporates his history and his life in such an elegant way." --Tony Robbins "It's important and instructive to share what you've learned in life with others, and Ray does this in an interesting and provocative way in this compelling work." --Jamie Dimon "Ray Dalio has provided me with invaluable guidance and insights that are now available to you in Principles." --Bill Gates "Ray Dalio's market acumen is legendary, but it was creating and living by a set of principles that allowed him to reach the top. Everyone with goals and dreams can learn from Ray's approach." --Michael Bloomberg "What makes Dalio compelling is not just his track record but the way he goes about making money, and the rigorous analysis he applies to understanding markets, organizations, the economy, and life." --Fortune