#1 New York Times Bestseller “Significant…The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. 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.
@ Nerdy Chic 方法论 @ ichbinluz 虽然不在金融界，但也耳闻这位桥水的掌门人。很佩服他这么耐心反反复复地讲道理。看上去很像《人性的弱点》那类书，这本更符合时代潮流和精神了。重点还是在读者这一方，能不能选择变通，然后建立自己的原则。有一些立马就用到生活中了，譬如人的偏见其实隐藏得很深，倾向于喜欢(or录用)跟自己一样类型的人，认为他们更会成功，但是这样就导致了偏见的累积。于是我们需要跳出偏见，更客观地看问题。（很似曾相识是不是，人总是… @ YS 这种书可能不太适合听audio，前后不存在因果联系，很容易走神。听下来觉得断断续续捡到几个点还有点意思，前面介绍自己经历的部分太简短了。但整体感觉还是比较有诚意的，比苏世民的好点，哈哈。 @ kuijane 要深入理解并且活学活用，并不容易。 @ archflower1124 be radically open minded @ 木木星 嗯 人是个🐂的人 公司是个🐂的公司 但书真的感觉是凑数的 哈哈 就真的是豆腐三碗三碗豆腐 first chapter的自传还能看下 后面的300页 感觉20页就能搞定 我真的是逼着自己看下去的 从我第一次听podcast 知道ray 知道他和mcdonald nugget的关系 就很感兴趣 但这个书 我真的很不推荐 而且说的内容稍微有点自相矛盾 一面说不要micromanage 一面又要daily… @ Genki 老板推荐的，中英文版本都放到办公室里面了，喜欢那句“if you choose to push through this often painful process of personal evolution,you will naturally "ascend"to higher and higher levels”. 也的确之前凡是感到困难痛苦的坚持，给自己带来的收益是最大的。 @ Yvonne-Sheng 从17年自己的第一篇论文开始读原版。到今年，各种版本都读过。当初我在做对重基金和金融危机的报告，就有人让我读一下，也可以作为我未来职业的启蒙。这本书对于金融从业者，我一定会推荐，他的五步原则，我觉得很实用。建议搭配读书笔记一同使用。 @ hdragon 其实很喜欢别人送我ta自己读过，爱不释手的书。对于非管理学的学生非常值得一看，有时候感慨：要是所有人都学一点管理的常识该多好 @ 川夕 没有不好，也没有营销得那么好。个人获利最大的 insights 是本书开头部分提出的 "Evolution is the single greatest force in the universe; it is the only thing that is permanent and it drives everything." 提醒我对大自然造物主的敬仰。
WHERE I’M COMING FROM
1 My Call to Adventure: 1949–1967
2 Crossing the Threshold: 1967–1979
3 My Abyss: 1979–1982
4 My Road of Trials: 1983–1994
5 The Ultimate Boon: 1995–2010
6 Returning the Boon: 2011–2015
7 My Last Year and My Greatest Challenge: 2016–2017
8 Looking Back from a Higher Level
1 Embrace Reality and Deal with It
2 Use the 5-Step Process to Get What You Want Out of Life
3 Be Radically Open-Minded
4 Understand That People Are Wired Very Differently
5 Learn How to Make Decisions Effectively
Life Principles: Putting It All Together
Summary and Table of Life Principles
Summary and Table of Work Principles
TO GET THE CULTURE RIGHT . . .
1 Trust in Radical Truth and Radical Transparency
2 Cultivate Meaningful Work and Meaningful Relationships
3 Create a Culture in Which It Is Okay to Make Mistakes and Unacceptable Not to Learn
4 Get and Stay in Sync
5 Believability Weight Your Decision Making6 Recognize How to Get Beyond Disagreements
TO GET THE PEOPLE RIGHT . . .
7 Remember That the WHO Is More Important than the WHAT
8 Hire Right, Because the Penalties for Hiring Wrong Are Huge
9 Constantly Train, Test, Evaluate, and Sort People
TO BUILD AND EVOLVE YOUR MACHINE . . .
10 Manage as Someone Operating a Machine to Achieve a Goal
11 Perceive and Don’t Tolerate Problems
12 Diagnose Problems to Get at Their Root Causes
13 Design Improvements to Your Machine to Get Around Your Problems
14 Do What You Set Out to Do
15 Use Tools and Protocols to Shape How Work Is Done
16 And for Heaven’s Sake, Don’t Overlook Governance!
Work Principles: Putting It All Together
ABOUT THE AUTHOR
APPENDIX: TOOLS AND PROTOCOLS FOR BRIDGEWATER’S IDEA MERITOCRACY
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