Principles: Life and Work by Ray Dalio

PRINCIPLES LIFE AND WORK

A book by Ray Dalio

INTRO

THANKS!NO MATTER OUR LIFE SITUATION

We all face problems which require a decision to be made

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

DALIO GUIDES READERS

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

Throughout his time at Bridgewater, Dalio realized that decisions can be better made when there are a number of set principles to follow on varyingsubjects.

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 POINTSOne of Dalio’s primary points throughout Part II, and the book as a whole, concerns a person’s duty to be open-minded.

IF WE ARE CLOSED OFFIf 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.

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.

ANOTHER PIECEAnother 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.”

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 theirorganization.

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A B O O K B YRay Dalio