Ray Dalio is one of the most successful businessmen and investors in the world. In this book, he shares the untraditional principles that he’s nurtured, refined, and employed over the past four decades to create unique results in both business and life—and which can be adopted by any organization or individual to help achieve their goals.
Ray Dalio founded the investment firm Bridgewater Associates in 1975. Since its inception, it has made more money than any other hedge fund. According to Fortune magazine, it is the fifth most significant private company in the United States, and Dalio is on Time magazine’s list of the 100 most influential people in the world. Dalio describes his principles as aimed at “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.”
In this book, he shares what he’s learned over the course of his amazing career. He argues that investing, management, economics, and even life itself, for that matter, can all be systemized into rules. They work like machines. The myriad of practical lessons built around his tenets of “radical truth” and “radical transparency” in the book include the most effective ways for individuals and organizations to take on challenges, make decisions, and develop strong teams.
Among the innovative tools his company uses to bring the idea meritocracy to life are creating “baseball cards” distilling the strengths and weaknesses of each employee and employing computerized decision-making systems to reach plausibility-weighted decisions.
The book not only brims with innovative ideas for institutions and organizations, it also offers a clear approach to decision-making that anyone can apply.
