Principles: Life and Work (Hardcover)

#1New York TimesBestseller

Significant…The book is both instructive and surprisingly moving. TheNew York Times

Ray Dalio, one of the worlds most successful investors and entrepreneurs,shares the unconventional principles that hes developed, refined, and usedover the past forty years to create unique results in both life andbusinessand which any person or organization can adopt to help achieve theirgoals.

In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out ofhis two-bedroom apartment in New York City. Forty years later, Bridgewater hasmade more money for its clients than any other hedge fund in history and growninto the fifth most important private company in the United States, accordingtoFortunemagazine. Dalio himself has been named toTimemagazineslist of the 100 most influential people in the world. Along the way, Daliodiscovered a set of unique principles that have led to Bridgewatersexceptionally effective culture, which he describes as an idea meritocracythat strives to achieve meaningful work and meaningful relationships throughradical transparency. It is these principles, and not anything special aboutDaliowho grew up an ordinary kid in a middle-class Long Islandneighborhoodthat he believes are the reason behind his success.

InPrinciples,Dalio shares what hes learned over the courseof his remarkable career. He argues that life, management, economics, andinvesting can all be systemized into rules and understood like machines. Thebooks hundreds of practical lessons, which are built around his cornerstonesof radical truth and radical transparency, include Dalio laying out themost effective ways for individuals and organizations to make decisions,approach challenges, and build strong teams. He also describes the innovativetools the firm uses to bring an idea meritocracy to life, such as creatingbaseball cards for all employees that distill their strengths and weaknesses,and employing computerized decision-making systems to makebelievability-weighted decisions. While the book brims with novel ideas fororganizations and institutions,Principlesalso offers aclear, straightforward approach to decision-making that Dalio believes anyonecan apply, no matter what theyre seeking to achieve.

Here, from a man who has been called both the Steve Jobs of investing andthe philosopher king of the financial universe (CIOmagazine), isa rare opportunity to gain proven advice unlike anything youll find in theconventional business press.

About the Author

Ray Dalio is Founder, Co-CIO and Member of the BridgewaterBoard, which, over the last forty years, has become the largest andbest-performing hedge fund in the world. Dalio has appeared on theTime100list of the most influential people in the world as well as the BloombergMarkets list of the 50 most influential people. He is also #1New YorkTimesbestselling author ofPrinciples,Principlesfor Navigating Big Debt Crises, andPrinciples for Dealing with theChanging World Order. He lives with his family in Connecticut.