PRINCIPLES LIFE AND WORK
A book by Ray Dalio
NO MATTER OUR LIFE SITUATION We all face problems which require a decision to be made
INTRO
THESE DECISIONS May be made in a split second or take weeks worth of deliberating
HAVING GUIDING PRINCIPLES For making decisions eliminates much of the unnecessary stress and confusion caused by these choices
PART #
1
IN PRINCIPLES, RAY DALIO BEGINS IN PART ONE BY REFLECTING ON HIS EARLY DAYS IN LIFE AND HOW HE GOT STARTED ON HIS PATH TO SUCCESS.
FINANCIAL INDUSTRY
4,000,000
3,000,000
DALIO GUIDES READERS
2,000,000
1,000,000
0
Year 1
Year 2
Year 3
Year 4
Through his career in the financial industry, beginning with making trades as a young man and eventually creating Bridgewater Associates, the world’s largest hedge fund in assets under management.
RAY DALIO DECISIONS Throughout his time at Bridgewater, Dalio realized that decisions can be better made when there are a number of set principles to follow on varying subjects.
HIS SUCCESS Principles is not only Dalio’s reflection on his life and what led to his successes (and failures), but also spells out the principles he uses both in his personal and professional life.
PART #
2
THESE PRINCIPLES ALLOW US TO LOOK AT LIFE NOT AS AN UNCRACKABLE CODE, BUT RATHER AS A SOMEWHAT PREDICTABLE SERIES OF EVENTS WHICH WE REPEATEDLY FACE AND HAVE PREVIOUSLY NAVIGATED TOWARDS A DECISION.
PRIMARY POINTS One of Dalio’s primary points throughout Part II, and the book as a whole, concerns a person’s duty to be open-minded.
OUR NEED TO BE OPENMINDED In addition to our need to be openminded, Dalio stresses our need to accept things for what they are, but also lays out for readers his own series of five steps to achieve our goals we set for ourselves.
IF WE ARE CLOSED OFF If we are closed off to others and their opinions, we not only will be alone in the world, but we will also miss learning valuable information which others could teach us.
ANOTHER PIECE Another piece in Part II addresses people as a whole. People, according to Dalio, are all different from each other, but this is something that we should value.
OTHERS MAY POSSESS QUALITIES OTHERS MAY POSSESS QUALITIES DIFFERENT FROM US WHICH COMPLIMENT US AND CAN CREATE BETTER ORGANIZATIONS AND A BETTER LIFE.
PART #
3 WORK PRINCIPLES ADDRESSES THE APPLICATIONS OF DALIO’S PRINCIPLES OUTLINE TO A PERSON’S WORK, AND HOW ONE CAN BENEFIT IN THEIR WORK LIFE FROM USING SUCH PRINCIPLES.
ORGANIZATIONS AS A TYPE OF MACHINE THIS FINAL SECTION OF PRINCIPLES STRESSES THAT READERS VIEW THEIR PROFESSIONAL ORGANIZATIONS AS A TYPE OF MACHINE, AND THAT PROBLEMS BE BROUGHT TO ATTENTION THROUGH A SYSTEM OF WHAT DALIO CALLS “RADICAL TRUTH AND RADICAL TRANSPARENCY.”
COMPANY’S MISSION He goes on to emphasize the importance of all employees’ belief in the company’s mission, and that workers should be in an environment where sincere work and relationships are valued.
A SYSTEM OF TRAINING Although somewhat harsh, Dalio suggests using a system of training and testing all employees to ensure their proper placement in the organization
HOW TO PROPERLY SELECT PEOPLE Dalio continues to lay out his principles on how to properly select people who will fit with the organization, and explains his belief that having the right people working for an organization is more important than the actual work itself.
BUILD AND EVOLVE YOUR MACHINE. Wrapping up his section on Work Principles, Dalio illustrates his principles concerning how to “Build and Evolve Your Machine.”
SELECT WHICH PRINCIPLES FIT WELL While these are the principles used by Bridgewater Associates, Dalio reminds readers that they are able to select which principles fit well with their organization and modify others in order to best run their organization.
By following the outline of principles throughout this book and by customizing and implementing them in one’s organization, decisions will be made more consistently and easily by management and employees will better understand the organization for which they are working.
DOWNLOAD PDF SUMMARY https://www.bookcademy.com/
DOWNLOADS
ENROLL NOW https://www.bookcademy.com/
SLIDES MADE BY Bookcademy.com
A BOOK BY Ray Dalio
TWITTER https://twitter.com/bookcademy
SOCIAL
LINKEDIN https://linkedin.com/company/bookcademy
FACEBOOK https://facebook.com/bookcademy
THANKS!
