Principles / Ray Dalio.

Format:

Book

Author/Creator:

Dalio, Ray, 1949- author.

Contributor:

Lippincott Library Book Endowment Fund.

Language:

English

Subjects (All):

Investment advisors.

United States.

Dalio, Ray, 1949-.

Dalio, Ray.

Success in business.

Success.

Corporate culture.

Decision making.

Conduct of life.

Investment advisors--United States--Biography.

Goal (Psychology.).

Local Subjects:

Decision making.

Success in business.

Goal (Psychology.).

Conduct of life.

Corporate culture.

Success.

Genre:

Autobiographies.

Biographies.

Nonfiction.

Physical Description:

xviii, 567 pages : illustrations ; 24 cm

regular print

Edition:

First Simon & Schuster hardcover edition.

Other Title:

Life & work : principles

Place of Publication:

New York : Simon and Schuster, [2017]

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 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.

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.

Notes:

Includes bibliographical references (pages 553-554) and index.

Local Notes:

Acquired for the Penn Libraries with assistance from the Lippincott Library Book Endowment Fund.

Athenaeum copy: Gift of the publisher.

ISBN:

9781501124020

1501124021

OCLC:

978287244

Publisher Number:

13707170

99974015039