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  • Principles

  • Life and Work
  • Written by: Ray Dalio
  • Narrated by: Ray Dalio, Jeremy Bobb
  • Length: 16 hrs and 5 mins
  • 4.6 out of 5 stars (1,279 ratings)

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Principles

Written by: Ray Dalio
Narrated by: Ray Dalio, Jeremy Bobb
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Publisher's Summary

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 40 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 has 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.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.

©2017 Ray Dalio (P)2017 Simon & Schuster Audio

Editorial Review

If you’ve been looking for a guide to career, business, or financial success, or if you’re struggling with making decisions and facing challenges, Ray Dalio has the Principles to help you.

Principles is the perfect audiobook for anyone looking to kick-start their career or launch a business endeavour. In this how-to guide, as the title suggests, Ray Dalio shares his principles for effective management, investment success, and a rewarding life. Learn unconventional lessons from the author, a billionaire hedge fund manager, entrepreneur, and philanthropist, and start your journey to becoming your most successful self. Beyond laying out his trusted principles, Dalio explains how to follow them in such a way that greatness is inevitable.

For these golden rules of greatness, Dalio pulls from his own outstanding success in corporate management, investing, building strong teams, and making a difference in others’ lives. His practical lessons are grounded in his commitment to “radical” truth and transparency in all dealings. Narrating his own Principles, the author brings a level of expertise and influence to the work that is undeniable and compelling.

Principles: Life & Work is a New York Times best seller, and has garnered widespread praise for its unique but poignant steps to success. His take on corporate culture and interpersonal management focuses on straight-shooting factual feedback which aims to build and empower employees towards success. At times unconventional, Dalio’s Principle is a must-listen for high-achievers in the corporate world and beyond.

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What listeners say about Principles

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Overfit

There are some really good ideas in this book but there is so much data that the model is so overfit that it's useless to anyone outside of Bridgewater and I have a feeling it's likely even overfit for Bridgewater itself. It's certainly the result of a lot of careful learning over a lifetime but it has become too rigid.
Also for a book that seems to endorse an 'idea meritocracy' it sure reads like a dictatorship. There were a lot of times when I had to switch to another book because it felt like I was being nagged at by some grandpa saying "If you don't do things my way, you will fail!".
If you have a lot of time and patience to wade through this book, there are some gems to be found but this book has little practical advice or use.

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6 people found this helpful

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Great book, could not stop listening

I started listening and had a hard time to stop, finished in only two sessions. I found many of the principles very interesting and several I already use in my daily life.

I believe that it is a must read for new supervisors or those who are in management positions. Some of the teachings I believe would benefit many of the organizations I have been a part of in the past.

Will definitely give it another listen and know that I will pull something new out every listen. I will most likely listen to the audiobook a couple of times a year.

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4 people found this helpful

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superb recap of a business well built.

an instruction manual of sorts, for the CEO who grows the company through continuous improvement and objective metrics

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3 people found this helpful

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Ultimately useless information

Book has good principles, but it dumps hundreds of them on you, with few ways to actually make them useful for an average person. Much more personal anecdotes would help. Eg, book promotes radical honesty when dealing with people (and when you have a problem with them), but obviously the execution of such a delicate social interaction is the tricky part. For being such a proponent of pragmatism, Dalio did not write a practical book.

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Great concept, but repetitive

Loved the book and its core concept but was unable to finish it due to how repetitive it was. it was so repetitive that I didnt feel the need to listen to the last 6 hours of the book. Definitely a must-read, but there's no need to listen to it in its entirety.

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Listen for the 2nd time

Cannot help but listening all the time. Loved it! Thank you, Mr. Dalio.
Great thoughts and life experience!!

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probably the best book ever written.

the amount of wisdom in this book is mindbogglng. Ray somehow makes a very large book with absolutely zero fluff. every lesson the billionaire has learnt is distilled into simple organized rules (or principles for life). one of the very few books I've come back to and read. it's like an encyclopedia for success and dealing with situations in life.

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amazing book!

the first few chapters are a little slow but still good but once he gets into his principles I wasn't able to stop listening. a lot of valuable insight and information and if you take it in with an open mind can definitely be life-changing.

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Can't wait for another book for Ray Dalio

Ray Dalio is truly one of the greatest minds alive and having him share his story is priceless for me. I feel like I have got upgraded from level 3 to level 7 by reading this book.
It covers all the bases for you to succeed in any work environment.
One thing to note: do NOT miss the first part of the book where he talks about his life experience rather the principles. That part was AMAZING and I wish he would expended on that more (an this is a 16 hour book).
I can't wait when he is going to release the Principles of Economics and Investments.

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Great listen! Highly recommend to everyone!

This was by far the best book I've ever listened to or read in regards to improving my work life, investment decisions and all reaching to new higher goals. I came away with quite a few ways to improve my approach to life in all its aspects creating a better me : )

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