Publisher: Simon and Schuster, 2017, 567 pages
ISBN: 978-1-5011-2402-0
Keywords: Management
In 1975, Ray Dalio founded Bridgewater Associates out of his two-bedroom apartment in New York City. Forty years later, Bridgewater is the fifth most important private company in the United States (Fortune) and has made more money for investors than any other hedge fund in history (Bloomberg). Along the way, Dalio discovered a set of unique principles that he believes are the reason behind his success, and that he now shares in this book.
While Principles brims with novel ideas, its core is a clear, straightforward approach to decision-making — including Dalio's innovative process of "believability weighting" — that anyone can apply no matter what they're seeking to achieve. The book also provides a blueprint for creating "an idea meritocracy that strives for meaningful work and meaningful relationships through radical truth and radical transparency," which is the reason for Bridgewater's success. Here, from a man called "the Steve Jobs of Investing" by CIO magazine, is a rare opportunity to gain proven advice unlike anything you'll find in the conventional business press.
A book that was interesting to read, not least because the author knows how to write, but also because there are nuggets here and there.
It is not a book to read straight through, but to come back to and reflect over. Sometimes a bit wordy, and you don't always have to agree with the concepts, but you at least understand where the ideas come from and why they make sense to the author.
All in all, a decent book that makes you think.
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